In the Figure Given Below,the Curve TT Shows How the Allocation

question 64

Multiple Choice

In the figure given below,the curve TT shows how the allocation of a resource affects the well-being of two individuals,Hank and Monica.
-In Figure 19-1,point C:

• A)represents the resource allocation where total welfare is minimized.
• B)indicates an inefficient allocation of resources.
• C)is Pareto optimal.
• D)represents an efficient but undesirable allocation of resources.

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Definitions:

Mental Representation

The mental imagery or symbols used to understand and process information about the world around.

College

An institution of higher learning that offers undergraduate and postgraduate degrees in various fields.

Biological Constraints

Limitations on learning that are due to the inherited characteristics of an organism.

Natural Selection

The principle that inherited traits that better enable an organism to survive and reproduce in a particular environment will (in competition with other trait variations) most likely be passed on to succeeding generations.