ECON 2100 Midterm: ECON 2100 Kennesaw State ECON2100 Summer2014 Exam1B

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31 Jan 2019
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Econ 2100 (summer 2014 sections 08 & 09) A combination of goods is characterized by productive inefficiency if it is not only. Attainable, but further, if it is possible to increase the production of some good without having to decrease the production of any other good. An attainable combination of output can never be characterized by productive. A combination of goods is unattainable if it cannot possibly be produced with the currently available resources and technology. The ___________________ is a guide for allocating scarce productive resources, which states that when increasing the production of a good, a society should do so by using the available productive resource with the lowest opportunity cost. Which individuals will get to consume which goods and services? . None of the above answers are correct (since each choice is one of the three basic. If the price of hotdogs were to increase, then the.

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