Multiple Choice
The Production Possibilities Frontier (curve) represents all possible combinations of two products:
A) that can be produced with the same set of resources
B) for which the opportunity costs are equal
C) that are supplementary in relationship
D) that will yield the same total revenues
Correct Answer:
Verified
Correct Answer:
Verified
Q48: The slope of the Production Possibilities Frontier
Q49: For a farm producing two crops and
Q50: A change in relative prices will affect
Q51: Movements along a Production Possibilities Frontier (curve)
Q52: The PPF is:<br>A) concave to the origin<br>B)
Q54: The opportunity cost of a resource tells
Q55: If all resources are used to produce
Q56: The MRPS is:<br>A) the rate at that
Q57: Technological change will affect the:<br>A) PPF<br>B) isorevenue
Q58: Technological change in the good located on