When the production possibilities curve is bowed out, resources are
a. equally well-suited to production of both goods.
b. not being used efficiently.
c. not equally suited to the production of both goods.
d. available in larger and larger quantities as more of one good is produced.
C
Economics
You might also like to view...
Marginal utility (MU) equals:
a. P/Q. b. Q/TU. c. PQ/TU. d. TU/P. e. TU/Q.
Economics
When total planned expenditures are more than real GDP, there will be inventory accumulation
a. True b. False Indicate whether the statement is true or false
Economics
The production possibilities frontier represents all desirable combinations of two goods
a. True
b. False
Economics
Why does entry into markets decrease firm profits?
What will be an ideal response?
Economics