An Economy's Production of Two Goods Is Efficient If

question 238

Multiple Choice

An economy's production of two goods is efficient if

• A)all members of society consume equal portions of the goods.
• B)the goods are produced using only some of society's available resources.
• C)it is impossible to produce more of one good without producing less of the other.
• D)the opportunity cost of producing more of one good is zero.

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Definitions:

Clevis Pins

Clevis pins are a type of fastener commonly used in mechanical linkages, allowing for rotation or movement of the connected parts while maintaining alignment.

Quick Release Fasteners

Mechanisms designed to fasten components together securely while also allowing for rapid removal or disassembly without requiring tools.

Semi-Permanent

Describes a connection or assembly that is designed to be disassembled and reassembled, but not intended for frequent changes.

Standard Taper Pins

Standard Taper Pins are conically shaped metal pins used to position and secure two parts together, allowing for easier alignment and assembly due to their tapered design.