The Following Question Are Based on the Following Production Possibilities

question 67

Multiple Choice

The following question are based on the following production possibilities curve:

-Suppose 4 million tractors wear out each year.If society chooses point A as this year's output combination,then this year's food output is 8 million tons,and at the end of the year

• A) there will be 4 million more tractors than at the beginning of the year.
• B) the production possibilities curve will shift outward.
• C) there will be 4 million fewer tractors than at the beginning of the year.
• D) there will be the same number of tractors as at the beginning of the year.
• E) output cannot be determined due to insufficient information.

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Definitions:

Optimal Order

The most efficient quantity of goods to order, balancing order costs with holding costs to minimize total inventory costs.

Fish Tacos

A culinary dish made with grilled or fried fish, placed inside a tortilla, and often accompanied by various toppings such as cabbage, salsa, and lime.

Standard Deviation

A statistical measure of the dispersion or variability within a data set, indicating how spread out the numbers are from the mean.

Optimal Cycle

The most efficient duration or sequence for a process or operation to minimize costs and maximize output.