Multiple Choice
If a production possibilities frontier is a downward sloping straight line, it
A) shows that there are no trade-offs in the production process.
B) shows that resources are not efficiently allocated
C) shows that production on the frontier implies that it is not possible to produce more of anything without producing less of something else.
D) shows that resources are unemployed.
Correct Answer:

Verified
Correct Answer:
Verified
Q140: "Peak pricing" can only work effectively if
Q141: Total surplus is in which type of
Q142: A weakness of the price system is
Q143: In order for the price system to
Q144: Prohibiting price increases in situations of true
Q146: If the marginal cost of producing steel
Q147: The issue of fairness versus efficiency arises<br>A)only
Q148: Division of iron ore between the production
Q149: The degree to which an economic system
Q150: The laissez-faire free-market system is<br>A)an ideal of