The point of tangency between the production possibilities frontier and community indifference curve reflects:
A) the nation's comparative advantage
B) internal equilibrium relative to commodity price in the nation
C) external equilibrium relative to commodity price in the nation
D) Both A and B
Correct Answer:
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Q16: _ is the amount of one commodity
Q17: Why do increasing opportunity costs of production
Q18: Increasing opportunity costs result in a production
Q19: As we consume more of a commodity,a(n)_
Q20: Community indifference curves that are _ show
Q22: Increasing opportunity costs result in a production
Q23: Relative prices are different for each nation
Q24: Increasing opportunity costs of production are reflected
Q25: International trade and specialization in comparative advantage
Q26: The marginal rate of transformation is the
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