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Author Question: Given the production possibilities schedule in the above table, a combination of 75 televisions and ... (Read 39 times)

Cooldude101

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on: Jun 29, 2018
Given the production possibilities schedule in the above table, a combination of 75 televisions and 60 personal computers
 
  A) is attainable but involves the unemployment of some of society's resources.
  B) clearly illustrates the trade-off between televisions and computers.
  C) cannot be produced by society, given its current level of resources and production technology.
  D) can be produced only if society is willing to have some of its resources used inefficiently.

Question 2

Morgan graduates from college and gets a job paying 50,000 a year. While in school, she consumed 4 pounds of chicken and 1 pound of shrimp a month. After she starts work, she consumes 2 pounds of chicken and 3 pounds of shrimp a month.
 
  If everything else is held constant, we know that A) chicken and shrimp are normal goods for Morgan.
  B) chicken is an inferior good and shrimp is a normal good for Morgan.
  C) chicken is an inferior good for Morgan.
  D) shrimp is a normal good for Morgan.


joneynes

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

B


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