Figure 22-5 -From the Graph in Figure 22-5 (Curves Show Output Per

question 93

Multiple Choice

Figure 22-5

-From the graph in Figure 22-5 (curves show output per unit of labor input) , one can infer that

• A)in terms of TVs, computers are more expensive in China than Japan.
• B)in terms of computers, TVs are more expensive in China than Japan.
• C)China should produce more TVs and fewer computers.
• D)All of the above are correct.

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Definitions:

Equilibrium Wage Rate

The equilibrium wage rate is the wage rate at which the quantity of labor demanded by employers equals the quantity of labor supplied by workers.

JMP Instruction

A command in assembly or machine language that causes the computer to jump to a different part of the program.

Forcing Function

A forcing function is an external function or action applied to a system that drives its response, often used in differential equations to model external influences.