Below is production possibilities data for the countries of Mental and Etheric.
-Refer to the information above to answer this question.If both countries produce combination D what will be the combined outputs?
Definitions:
Output Effect
The effect that changes in the price level have on production due to the incentive for producers to increase supply when the price is higher.
Profit-maximizing
The method a company uses to identify the pricing and production volume that maximizes profit.
Marginal Product
The additional output that is produced by using one more unit of a factor of production, all else held constant.
Elasticity
Elasticity measures the responsiveness of the quantity demanded or supplied of a good or service to a change in its price or other factors like income.
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