Multiple Choice
Which of the following is an example of a capital-intensive commodity?
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2. Introductory Economic Models
Production Possibilities Frontier (PPF) - Introduction and Productive Efficiency
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Suppose a firm’s production possibilities are shown in Table 13-1, where the number of workers hired and the corresponding total output are listed. If 3 workers are hired, what is the total output produced?
A
30 units
B
12 units
C
24 units
D
18 units
Verified step by step guidance1
Identify the relevant data from the production possibilities table, focusing on the number of workers hired and the corresponding total output.
Locate the row in the table where the number of workers hired is 3.
Read the total output value that corresponds to 3 workers hired from the table.
Understand that the total output represents the total quantity of goods produced by the firm when 3 workers are employed.
Confirm that the total output value you found matches one of the given options to select the correct answer.
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