Use the Figure Above to Answer the Following Questions

question 167

Multiple Choice

use the figure above to answer the following questions :
-In the figure,point E is

• A) an efficient point.
• B) unattainable with current resources.
• C) an inefficient point.
• D) the equilibrium.
• E) evidence that trade does not enrich society.

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Definitions:

Variable Cost

Costs that vary directly with the level of production or service provision, increasing as production increases and decreasing as production decreases.

Fuel Payments

Money expended to cover the cost of fuel, often in the context of transportation, heating, or energy production.

Total Output

The total quantity of goods or services produced by an economy or a firm within a specific period.

Marginal Product

The additional output produced by adding one more unit of a specific input, holding all other inputs constant.