A production possibilities frontier is negatively sloped because
A) the quantity of a good purchased decreases as its price falls.
B) opportunity cost of production increases as more of a good is produced.
C) some resources are misallocated.
D) there is too little capital in the economy.
E) opportunity cost of production decreases as more of a good is produced.
Correct Answer:
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Q8: If Sam is producing at a point
Q9: On a graph of a production possibilities
Q10: Production efficiency is achieved when
A)the production possibilities
Q11: Use the figure below to answer the
Q12: A tradeoff exists when
A)we move from a
Q14: Which of the following quotations best illustrates
Q15: If Harold must decrease production of some
Q16: If Harold can increase production of good
Q17: A point inside a production possibilities frontier
A)indicates
Q18: If Sam is producing at a point
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