Which of the following is not a reason for increasing opportunity costs:
A) technology differs among nations
B) factors of production are not homogeneous
C) factors of production are not used in the same fixed proportion in the production of all commodities
D) for the nation to produce more of a commodity,it must use resources that are less and less suited in the production of the commodity
Correct Answer:
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Q1: The marginal rate of substitution (MRS)of X
Q2: The marginal rate of transformation (MRT)of X
Q4: Mutually beneficial trade cannot occur if production
Q5: The gains from exchange with respect to
Q6: Which of the following is not true
Q7: Which of the following statements is false?
A)The
Q8: Which of the following statements is true
Q9: If the internal Px/Py is lower in
Q10: A production frontier that is concave from
Q11: Nation 1's share of the gains from
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