-Refer to Above Figure

question 31

Short Answer

-Refer to above figure. If manufacturing labor were to increase to OmL2, how much value would the economy as a whole gain?

---

Definitions:

Inherent Value

The intrinsic worth of something, independent of its utility or application.

Conditional Regard

A form of approval or affection given to someone only when they meet certain expectations or criteria.

Self-Esteem

The subjective evaluation of one's own worth, encompassing beliefs about oneself as well as emotional states such as triumph, despair, pride, and shame.

Experiential World

Refers to the individual subjective perception and interpretation of the world around them, shaped by personal experiences and cognitions.