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Consider the Following Substitution Possibility Graph

Question 21

Multiple Choice

Consider the following substitution possibility graph. Assume that the output level (i.e. Economic production) is the same for each line (Q0 = Q1 = Q2) . Which of the following statements is correct?
Consider the following substitution possibility graph. Assume that the output level (i.e. Economic production)  is the same for each line (Q0 = Q1 = Q2) . Which of the following statements is correct?   A)  With Q1, technological improvements are such that resource conservation  is lower relative to Q0. B)  With Q2, technological improvements are such that resource conservation  is lowest relative to Q0 and Q1. C)  With Q0, technological improvements are such that resource conservation Is highest relative to Q1 and Q2. D)  Only b)  and c)  are correct E)  A) , b) , and c)  are correct


A) With Q1, technological improvements are such that resource conservation
is lower relative to Q0.
B) With Q2, technological improvements are such that resource conservation
is lowest relative to Q0 and Q1.
C) With Q0, technological improvements are such that resource conservation
Is highest relative to Q1 and Q2.
D) Only b) and c) are correct
E) A) , b) , and c) are correct

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