--%>

Example of Productive Efficiency in Economic

If six units of capital can be substituted for one unit of labor without changing total steel output, whereas 4 units of capital can be substituted for one unit of labor without changing the output of wheat, at that moment: (w) there is an optimal allocation of resources in between wheat and steel. (x) this would be more efficient when labor was reallocated from wheat to capital and steel was reallocated from steel to wheat. (y) this would be more efficient to reallocate labor by steel to wheat and capital by wheat to steel. (z) there is inadequate information to answer above question definitively.

Please suggest me your advice for the same.

   Related Questions in Public Economics

  • Q : Punishment to criminals devoid of

    The early philosopher who argued about criminals must be punished proportionally to the harm completed to society, but without consideration of remorse, intent or motive was: (1) John Stuart Mill. (2) Edwin Chadwick. (3) Jeremy Bentham. (4) Adam Smith. (5) Aristotle.<

  • Q : Illustrate Prices of gold and silver in

    Gold and silver, both although better conductors of electricity than copper, are not generally used for household electric circuits since they are much more expensive. It illustrates prices like: (i) Information. (ii) Rationing devices. (iii) Incentiv

  • Q : When is a thing termed as a good as

    A thing is termed as a "good" (as opposite to a "bad") when: (w) its use improves human happiness. (x) its production needs capital and labor. (y) its value to society is restricted. (z) this is a service to people, as housecleaning.<

  • Q : Define much of a good as need at zero

    I need a good answer on the topic of free good in economic. Please give me your suggestion that when all people can consume as much of a good as they desire at zero cost, this is a: (w) welfare good. (x) bonus for buying something else. (y) surplus su

  • Q : Charecteristics of market efficiency

    Explain the characteristics of market efficiency?

  • Q : Uses of a theory in economic analysis

    To be helpful in economic analysis, a theory should produce: (w) Realistic assumptions. (x) A consensus in between scientists. (y) Results which is not possible to disprove. (z) Predictions supported through real world data.

    Q : Limitation of economic capital -

    Hey friends please give your opinion for the problem of economic capital that is given below: Illustrations of economic capital do NOT include: (w) buildings. (x) tools. (y) machinery. (z) stocks and bonds.

    Q : Society resources-output combinations

    The country’s production-possibilities curve exhibits: (i) Which combination of goods are best for the society. (ii) Output combinations which fully employ society's resources. (iii) Demands for various resources. (iv) Monetary quantities and pr

  • Q : Problem of Slavery and Normative

    Please guys help me to solve the problem of Slavery and Normative Economics that is given below: Slavery like a mechanism for allocating labor previous to the Civil War eventually proved to be in conflict along wit

  • Q : Rational behavior in Economic Reasoning

    Please help me to solve the problem of Economic Reasoning that is given below: Rational behavior should be: (i) Consistent along with reaching an identified goal. (ii) Ethical behavior. (iii) Good