Suppose a Country Produces Only Bikes and Clothing

question 127

Multiple Choice

Suppose a country produces only bikes and clothing. The country achieves an efficient allocation of resources when

• A) it can't produce any more bikes unless it gives up clothing.
• B) the marginal social benefit of producing a bike equals the marginal social cost of producing a bike.
• C) it produces an equal amount of bikes and clothes.
• D) the prices charged for the goods are as low as possible.

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Definitions:

Fast-mapping

The rapid learning and retention of new words by children, often after a single exposure, as part of language acquisition.

Vocabulary Words

A collection of words that an individual knows and uses in communication; an essential component of language proficiency.

Unknown Person

An individual whose identity is not known or cannot be immediately recognized.

Infant

A term for a very young child or baby, typically from birth to one year of age, marked by rapid physical growth and development of motor and cognitive skills.