
The production possibility frontier model shows that:
A) if consumers decide to buy more of a product, its price will increase.
B) a market economy is more efficient in producing goods and services than is a centrally planned economy.
C) economic growth can only be achieved by free market economies.
D) if all resources are fully and efficiently utilised, more of one good can be produced only by producing less of another good.
Correct Answer:
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Q1: Which statement is true about the slope
Q2: The points outside the production possibility frontier
Q3: If opportunity costs are constant, how would
Q5: The production possibility frontier shows the _
Q6: A 'production possibility frontier' with a bowed
Q7: 'Decreasing opportunity cost' is represented by a
Q7: Figure 2-1 Q8: The attainable production points on a production Q9: Stella can produce either a combination of Q13: Figure 2-1![]()
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