Refer to the Graph Shown

question 112

Multiple Choice

Refer to the graph shown. The cheapest way to produce 1,000 units of output is with:

• A) 12 units of capital and no workers.
• B) 5 workers and no capital.
• C) 2 workers and 7.2 units of capital.
• D) 4 workers and 2.4 units of capital.

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Definitions:

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Research papers written by students over an academic term, accounting for a large part of a grade.

Specialization And Trade

The economic practice where individuals or entities focus on a narrow area of expertise to increase efficiency and trade with others for different goods or services.

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The action or tendency of increasing the use or consumption of goods and services.

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Tangible products that satisfy human wants or needs.