Asked by Isabella Garcia on Apr 26, 2024
Verified
(Table: Production Possibilities Schedule I) Use Table: Production Possibilities Schedule I.If the economy produces two units of consumer goods per period,it also can produce,at MOST,_____ units of capital goods per period.
A) 30
B) 28
C) 24
D) 18
Consumer Goods
Products bought and used by consumers rather than by manufacturers for producing other goods.
Capital Goods
Long-term assets used in the production of goods and services, such as machinery, buildings, and equipment.
- Obtain an understanding of the key principles behind the production possibility frontier (PPF) and its repercussions for the efficient allocation of resources.
Verified Answer
KC
Karlee CoddensApr 29, 2024
Final Answer :
C
Explanation :
According to Table: Production Possibilities Schedule I, when the economy produces two units of consumer goods per period, it can produce at most 24 units of capital goods per period. Thus, the correct answer is C.
Learning Objectives
- Obtain an understanding of the key principles behind the production possibility frontier (PPF) and its repercussions for the efficient allocation of resources.
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