Which of the following is not correct? A typical production possibilities curve:
A)indicates how much of two products a society can produce.
B)reveals how much each additional unit of one product will cost in terms of the other product.
C)specifies how much of each product society should produce.
D)indicates that to produce more of one product society must give up larger and larger amounts of the other product.

Question

Quizplus · Accepted Answer

The production possibilities curve does not specify how much of each product society should produce, but rather shows the maximum output combinations that can be produced with the available resources and technology. The other options are correct statements about the production possibilities curve.

Which of the Following Is Not Correct? a Typical Production