Figure 2-8

-The production possibility frontier in Figure 2-8 assumes that U.S.agricultural land is used either to raise cotton for clothing or to grow wheat.This is an example of a(n)

Question

Figure 2-8
 
-The production possibility frontier in Figure 2-8 assumes that U.S.agricultural land is used either to raise cotton for clothing or to grow wheat.This is an example of a(n)

Quizplus · Accepted Answer

The assumption made in Figure 2-8 is a simplifying assumption because it reduces the complex reality of agricultural land use to a two-dimensional graph for the purpose of analysis.

Figure 2-8 -The Production Possibility Frontier in Figure 2-8 Assumes That U.S.agricultural