The different points on a cost curve represent alternative production possibilities in the same time period.

Question

Quizplus · Accepted Answer

This is true because a cost curve shows the minimum cost of producing different quantities of a good in a given time period, and each point on the curve represents a different combination of inputs and outputs that can be used to produce the given quantity. Therefore, the different points on a cost curve represent alternative production possibilities within the same time period.

The Different Points on a Cost Curve Represent Alternative Production