Which of the following is an assumption used when drawing a production possibilities frontier?
i.Human wants and desires are limited to what is available.
ii.Only two goods are considered.
iii.The level of technology is fixed and unchanging.
A) i only
B) ii only
C) i and iii
D) ii and iii
E) i, ii, and iii
Correct Answer:
Verified
Q2: The United States produced approximately _ worth
Q3: The production possibilities frontier illustrates the
A) maximum
Q4: Consider a production possibility frontier with jeans
Q5: In the production possibilities frontier model,an unattainable
Q6: Assume that an association of young workers
Q7: The production possibilities frontier is the
A) maximum
Q8: Production efficiency is represented by _ a
Q9: A production possibilities frontier shows
A) the various
Q10: When all of the available factors of
Q11: 
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