Multiple Choice
The quantity of shoes produced is measured along the x-axis of a bowed-outward production possibilities frontier and the quantity of shirts produced is measured along the y-axis.As you move down towards the right along the production possibilities frontier,the marginal cost of
A) a pair of shoes decreases.
B) a pair of shoes increases.
C) a shirt remains constant.
D) a shirt equals the marginal benefit from a pair of shoes.
E) a pair of shoes and a shirt is equal at the midpoint between the x-axis and the y-axis.
Correct Answer:
Verified
Correct Answer:
Verified
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