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(Figure: Pancakes and Cereal I) Which of the Following Statements

Question 67

Multiple Choice

(Figure: Pancakes and Cereal I) Which of the following statements is (are) TRUE? (Figure: Pancakes and Cereal I)  Which of the following statements is (are)  TRUE?   I. Points G, H, I, and J lie on the production contract curve. II)  Points H and J represent an inefficient input allocation. III)  At point G, allocating more labor and capital to the cereal industry will increase the output of cereal and pancakes. A)  II B)  I and III C)  I D)  II and III I. Points G, H, I, and J lie on the production contract curve.
II) Points H and J represent an inefficient input allocation.
III) At point G, allocating more labor and capital to the cereal industry will increase the output of cereal and pancakes.


A) II
B) I and III
C) I
D) II and III

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