Solved

Differences in the _____ of Resources in the Production of Various

Question 48

Multiple Choice

Differences in the _____ of resources in the production of various commodities explain the per-unit opportunity cost associated with a concave production possibility frontier.


A) cost
B) relative productivity
C) availability
D) supply elasticity

Correct Answer:

verifed

Verified

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

Related Questions

Q43: The test of a theory is whether:<br>A)its

Q44: When analyzing events across time,economists measure consumer

Q45: Opportunity cost is the equivalent of:<br>A)explicit cost.<br>B)implicit

Q46: After spending $5 million developing a new

Q47: The downward slope of the production possibility

Q49: Compare the behavior of a person who

Q50: The assumption of rationality implies that market

Q51: Relative to a linear production possibilities curve,one

Q52: Suppose the consumer price index was 100

Q53: Consider the production possibility frontier of an