-The Above Table Shows Production Combinations on a Country?s Production

question 404

Multiple Choice

$$\begin{array} { | l | l | l | } \hline \text { Point } & \begin{array} { l } \text { Production of } \\X\end{array} & \begin{array} { l } \text { Production of } \\Y\end{array} \\\hline \text { A } & 0 & 40 \\\hline B & 3 & 36 \\\hline \text { C } & 6 & 28 \\\hline \text { D } & 9 & 16 \\\hline \text { E } & 12 & 0 \\\hline\end{array}$$
-The above table shows production combinations on a country?s production possibilities frontier. Which of the following is an example of a point that is unattainable?

• A) 0 units of good X and 40 units of good Y.
• B) 10 units of good X and 16 units of good Y.
• C) 3 units of good X and 35 units of good Y.
• D) 6 units of good X and 28 units of good Y.

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Definitions:

Endowment

In economics, the total resources available to an individual or entity, including assets, income, and inherited resources.

Net Demand

The difference between total market demand and market supply, representing the excess demand or shortage in the market.

Utility Function

An economic concept expressing how different combinations of goods or services yield different levels of utility or satisfaction to an individual.

Endowment

The initial allocation of income, goods, or resources that individuals or firms possess in an economy, often impacting their trading capabilities and outcomes in markets.