Figure 1.2 
-If an economy is producing at a point on the production possibilities curve it represents:
A) full employment of existing resources.
B) the gains from trade that an economy can enjoy.
C) the maximum amount of two goods that can be produced with existing resources.
D) decreasing opportunity costs of producing both goods.
E) overutilization of existing resources.
Correct Answer:
Verified
Q49: Opportunity cost:
A)applies only to consumption decisions.
B)applies only
Q50: An economy's resources:
A)are limited in quantity.
B)are always
Q51: Every society must deal with the problem
Q52: Which of the following is an example
Q53: In economics, which of the following is
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