Which of the following statements is NOT an assumption underlying the production possibilities curve?
A) Resources are fully and efficiently employed.
B) Technology is fixed.
C) Production occurs over some specified time period.
D) The amount of resources available for production can be changed quickly.

Question

Quizplus · Accepted Answer

The assumption that the amount of resources available for production can be changed quickly is not part of the underlying assumptions of the production possibilities curve. The curve assumes that resources are fixed and that the economy must choose how to allocate them to produce different combinations of goods and services.

Which of the Following Statements Is NOT an Assumption Underlying