Multiple Choice
The production possibilities curve for two products is bowed out because
A) as the production of a good increases, opportunity cost increases.
B) as the production of a good increases, opportunity cost is unchanged.
C) the qualities of the resources are not identical.
D) there are unemployed resources.
Correct Answer:
Verified
Correct Answer:
Verified
Q3: David has just ordered a smartphone only
Q4: The law of increasing additional cost exists
Q5: Which type of resource will improve through
Q6: A production possibilities curve will shift outward
Q7: Technology<br>A) is constantly changing at every point
Q9: Refer to the above figure. A farmer
Q10: Opportunity cost exists because of<br>A) poverty.<br>B) scarcity.<br>C)
Q11: Opportunity cost is<br>A) the cost of producing
Q12: Economic bads are items<br>A) for which the
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