#1. Here is the graph that is to be used for the questions below. Match the description with either #1-#3 against A-E in the chart.

Match the points to the descriptions. Output Q3 O Q = f (K, L) A C E Q2 Q1 B L1 L2 L3 Labor Descriptions: Not feasible to use this level of labor to generate this level of output-#1 Not efficient to use this level of labor to generate this level of output-#2 On the frontier of technological efficiency-#3 Select either #1, #2, or #3 against A-E for each of the choices below based on the matching graph above. A Choose... B Choose... Choose... Choose... mo Choose...A price floor is a legally enforced minimal price, p 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 Finish Exam 2 V 8 p W 5 6 7 q* 95 Use this graph to answer questions 13-17 (see questions)