A production possibilities frontier that is a straight line shows
A) a truer picture of the real world than does a bowed-out production possibilities frontier.
B) that resources can be shifted easily and seamlessly from the production of one good to the production of a different good.
C) that the opportunity cost of one good in terms of another good depends on the quantities of the two goods that the economy is producing.
D) All of the above are correct.
Correct Answer:
Verified
Q92: Figure 2-2 Q94: The bowed-out shape of the production possibilities Q94: Which of the following is the most Q95: If an economy is producing efficiently,then Q97: Here are some production possibilities for an Q98: In the markets for goods and services, Q121: Any point on a country's production possibilities Q131: Production is efficient if the economy is Q139: When constructing a production possibilities frontier,which of Q155: Production possibilities frontiers are usually bowed outward.This
A)there is
A)households
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