Solved

Refer to the Diagram Below

Question 167

Multiple Choice

Refer to the diagram below.The concave shape of each production possibilities curve indicates that: Refer to the diagram below.The concave shape of each production possibilities curve indicates that: A) resources are perfectly substitutable. B) wants are virtually unlimited. C) prices are constant. D) resources are not equally suited for alternative uses.


A) resources are perfectly substitutable.
B) wants are virtually unlimited.
C) prices are constant.
D) resources are not equally suited for alternative uses.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q35: Which of the following is a normative

Q38: The global financial crisis that spread to

Q46: Marginal analysis means that decision makers compare

Q96: If the output of product X is

Q151: Normative statements are concerned with:<br>A)facts and theories.<br>B)what

Q152: Suppose an economist says that "Other things

Q163: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6686/.jpg" alt=" Refer to the

Q164: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6686/.jpg" alt=" Answer on the

Q207: A normative statement is one which:<br>A)is based

Q259: The law of increasing opportunity costs states