
-Refer to the above figure. A farmer has 50 acres of land on which to grow wheat or beans. An acre of land yields 400 bushels of beans or 800 bushels of wheat. Which of the following is a possible combination of beans and wheat that can be grown, assuming the land is farmed efficiently?
A) 30,000 bushels of each
B) 20,000 bushels of beans and 40,000 bushels of wheat
C) 5,000 bushels of beans and 5,000 bushels of wheat
D) 16,000 bushels of beans and 8,000 bushels of wheat
Correct Answer:
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Q170: Which of the following would result in
Q171: The curve that represents all possible combinations
Q172: A straight-line production possibilities curve has
A) an
Q173: Using the above table but now the
Q174: If the production possibilities curve is a
Q176: Briefly explain why people make choices.
Q177: Suppose an acre of land yields 100
Q178: A graphical representation which shows the trade-off
Q179: The production possibilities curve demonstrate which of
Q180: The production possibilities curve represents
A) the total
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