Author Question: In the above figure, points u, v, y, and z show A) an inefficient allocation of society's scarce ... (Read 91 times)

penguins · **on:** Jun 29, 2018

In the above figure, points u, v, y, and z show

A) an inefficient allocation of society's scarce resources.
B) possible combinations of televisions and personal computers.
C) a constant trade-off between televisions and personal computers.
D) that society prefers more televisions than computers.

Question 2

If economists are making the assumption that business people try to maximize profits, the best way to determine whether this assumption is useful or not is to

A) see whether it generates accurate predictions about the choices of business people.
B) ask business people whether it is true or not.
C) find out whether U.S. businesses are more profitable than European businesses.
D) take a survey of people and see if they agree with this assumption.