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Refer to the above diagram for athletic shoes. If the current output of shoes is Q3, then: Answer resources are being allocated efficiently to the...

Refer to the above diagram for athletic shoes. If the current output of shoes is Q3, then:
Answer
resources are being allocated efficiently to the production of shoes.
society would consider additional units of shoes to be more valuable than alternative products.
society would consider additional units of shoes to be less valuable than alternative products.
society would experience a net gain by producing more shoes.

This question was asked on Feb 02, 2011.

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