Multiple Choice
Table 1.3 shows the hypothetical trade-off between different combinations of brushes and combs that might be produced in a year with the limited capacity for Country X,ceteris paribus. Table 1.3
Production Possibilities for Brushes and Combs
On the basis of Table 1.3,in the production range of 1 to 2 combs the opportunity cost of producing 1 more comb in terms of brushes is
A) 4.
B) 1/2.
C) 2/17.
D) 1/7.
Correct Answer:

Verified
Correct Answer:
Verified
Q23: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5720/.jpg" alt=" Figure 1.8 suggests
Q24: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5720/.jpg" alt=" Refer to Figure
Q25: Adam Smith's invisible hand is now called<br>A)Economic
Q26: The production possibilities curve illustrates<br>A)The limitations that
Q27: Government failure occurs when government intervention fails
Q29: Table 1.1 shows the hypothetical trade-off
Q30: Describe the shape of the typical production
Q31: Economic models are used by economists to<br>A)Predict
Q32: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5720/.jpg" alt=" Choose the letter
Q33: All economies must make decisions concerning what