Look at the following production possibilities table for smartphones and tablets. The table shows the maximum combination of smartphones and tablets of corn that can be produced, when all resources are fully employed. Production Possibilities
Good A B C D E
Based on the above information
A) there is no trade-off between smartphones and tablets.
B) the opportunity cost of producing 30 instead of 20 smartphones is 120 tablets.
C) the opportunity cost of producing 40 instead of 30 smartphones is 30 tablets.
D) the opportunity cost of producing 90 instead of 50 tablets is 50 smartphones.
Correct Answer:
Verified
Q203: Q205: It is correct to state that a Q207: A production possibilities curve with quantities of Q209: Which of the following statements is NOT Q210: A production point that lies outside the Q211: A bowed Production Possibilities Curve (PPC) indicates Q213: A technological improvement can cause the production Q214: The president of the United States promises Q218: In the above figure, the combination of Q219: Refer to the above figure. If the![]()
A)
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents