The production possibilities frontier model assumes which of the following?
A) labor,capital,land and natural resources are unlimited in quantity.
B) the economy produces only two products.
C) any level of the two products that the economy produces is currently possible.
D) the level of technology is variable.
Correct Answer:
Verified
Q5: The principle of opportunity cost is that
A)in
Q6: The points outside the production possibilities frontier
Q12: The attainable production points on a production
Q12: Figure 2-2 Q15: The production possibilities frontier shows the _ Q19: Bella can produce either a combination of Q25: Table 2-1 Q27: An inward shift of a nation's production Q30: Figure 2-2 Q46: Figure 2-4 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
Production choices for Tomaso's Trattoria
