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Food production increased by 5%, while the production of tables remained unchanged. Unemployment is currently at 24,5% and the manufactures of the tables and food reported that they are using 85% of their production capacity. Based on the above information, which of the following statements is correct? A. Hilo is technically efficient in its production of tables and food. B. Hilo is inefficient in its production of tables and food. C. Hilo is at a point on the production. possibilities curve. D. Hilo is at a point outside the production possibilities curve.

Food production increased by 5%, while the production of tables remained unchanged. Unemployment is currently at 24,5% and the manufactures of the tables and food reported that they are using 85% of their production capacity. Based on the above information, which of the following statements is correct? A. Hilo is technically efficient in its production of tables and food. B. Hilo is inefficient in its production of tables and food. C. Hilo is at a point on the production. possibilities curve. D. Hilo is at a point outside the production possibilities curve.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Food production increased by 5%, while the production of tables remained unchanged. Unemployment is currently at 24,5% and the manufactures of the tables and food reported that they are using 85% of their production capacity. Based on the above information, which of the following statements is correct? A. Hilo is technically efficient in its production of tables and food. B. Hilo is inefficient in its production of tables and food. C. Hilo is at a point on the production. possibilities curve. D. Hilo is at a point outside the production possibilities curve.
Transcribed Image Text:Food production increased by 5%, while the production of tables remained unchanged. Unemployment is currently at 24,5% and the manufactures of the tables and food reported that they are using 85% of their production capacity. Based on the above information, which of the following statements is correct? A. Hilo is technically efficient in its production of tables and food. B. Hilo is inefficient in its production of tables and food. C. Hilo is at a point on the production. possibilities curve. D. Hilo is at a point outside the production possibilities curve.
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