Figure 3-11 the Graph Below Represents the Various Combinations of Ham and Ham

question 482

Multiple Choice

Figure 3-11
The graph below represents the various combinations of ham and cheese (in pounds) that the nation of Bonovia could produce in a given month.
-Refer to Figure 3-11. If the production possibilities frontier shown is for 240 hours of production, then which of the following combinations of ham and cheese could Bonovia not produce in 240 hours?

• A)250 pounds of ham and 120 pounds of cheese
• B)200 pounds of ham and 160 pounds of cheese
• C)160 pounds of ham and 200 pounds of cheese
• D)100 pounds of ham and 240 pounds of cheese

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Definitions:

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a specific price level, at a given time.

Quantity Supplied

The amount of a good or service that producers are willing and able to sell at a given price during a specified time period.

Price

The price expected, requisite, or delivered in remuneration for an object or service.

Market Price

The contemporary valuation at which a commodity or service can be acquired or disposed of in a commercial environment.