FIGURE 1- 5
-Refer to Figure 1- 5.Suppose that the relevant production possibilities boundary is the one labelled B.This boundary implies that
A) consumer goods are preferred to capital goods.
B) the concept of opportunity cost is not at work in this economy.
C) capital goods are preferred to consumer goods.
D) the opportunity cost of producing either capital goods or consumer goods does not depend on how much of each good is produced.
E) in this society the resources are not efficiently employed.
Correct Answer:
Verified
Q1: The concept of scarcity in economics usually
Q2: The table below illustrates that,in one
Q4: The table below shows that,in one
Q5: FIGURE 1- 5 ) Q6: The table below illustrates that,in one Q8: Because resources are scarce,individuals are required to Q9: The table below shows that,in one Q10: An economic system that relies primarily upon Q11: A small landscaping firm purchases a tractor Q48: Suppose there are only three alternatives to
A)use
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