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.
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
Q202: A point inside a society's production possibilities
Q205: The president of the United States promises
Q205: It is correct to state that a
Q211: Which of the following would cause an
Q225: A bowed production possibilities curve is consistent
Q228: Typically, the greater the specialization of resources
A)
Q229: A bowed outward production possibilities curve occurs
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