It is clear that productive inefficiency is a waste since resources are used in a way that produces less goods and services than a nation is capable of. Why is allocative inefficiency also wasteful

Which of the following can best be characterized as a subject of microeconomics? O an examination of an economy's price level an examination of monetary policy an examination of a country's economic growth an examination of consumer behavior +

The bowed out shape of the production possibilities frontier (PPF) illustrates the concept of Select all that apply: increasing marginal opportunity cost diminishing marginal opportunity costs increasing marginal returns diminishing marginal returns

Suppose the United States produces only two goods: alfalfa and computers. The following graph shows the United States’s current production possibilities frontier, along with six output combinations represented by black points (plus symbols) labeled A to F.   Complete the following table by indicating whether each point represents output combinations that are inefficient, efficient, attainable, or unattainable. Check all that apply. (refer to screenshot for table and graph)

According to Marx, surplus value is the source of profit. Discuss how surplus value is maximized in reference to the circuit of capital. What does it mean to say that capitalists have to deal with the problem of realizing surplus value?