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Table 171
​ -Refer to Table 17

question 120

Multiple Choice

Table 17.1
 Table 17.1 Computers  (units)   Shoes  (pairs)   Aharoni 600300 Kalinga 200400\begin{array}{l}\text { Table } 17.1\\\begin{array} { l l l } & \begin{array} { l } \text { Computers } \\\text { (units) }\end{array} & \begin{array} { l } \text { Shoes } \\\text { (pairs) }\end{array} \\\text { Aharoni } & 600 & 300 \\\text { Kalinga } & 200 & 400\end{array}\end{array}
-Refer to Table 17.1. Suppose Aharoni and Kalinga are the only two countries in the world and they produce computers and shoes. Aharoni has 100 workers, and Kalinga has 200 workers. The table below shows the per-day production possibilities for each country. Aharoni has

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Definitions:

Economies Of Scale

The cost advantage that arises with increased output of a product, as fixed costs are spread out over more units of production.

Total Demand

The entire quantity of a product or service that consumers in a market are willing and able to purchase at various prices.

Marginal Revenue

The additional revenue that a firm receives from selling one extra unit of a product or service.

Demand Schedule

A Demand Schedule is a tabular representation of the relationship between the price of a good or service and the quantity demanded by consumers, underlining the law of demand.

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