Assume for Brazil that the opportunity cost of each cashew is 100 peanuts. Which of these pairs of points could be on Brazil's production possibilities frontier?
a. (200 cashews, 30,000 peanuts) and (150 cashews, 35,000 peanuts)
b. (200 cashews, 40,000 peanuts) and (150 cashews, 30,000 peanuts)
c. (300 cashews, 60,000 peanut) and (200 cashews, 50,000 peanuts)
d. (300 cashews, 60,000 peanuts) and (200 cashews, 80,000 peanuts)
a
You might also like to view...
According to the Constitution, the President sets tariff rates
Indicate whether the statement is true or false
Obstacles that make it difficult or impossible for would-be producers to enter a market are known as:
A.) Barriers to entry. B.) Monopoly profits. C.) Entry blockades. D.) Entry tariffs.
Why do economists say that everyone faces scarcity?
a. All people must share the same natural resources. b. Everyone competes for the available goods and services. c. People are willing to pay for goods and services. d. No one can have all the goods and services they desire.
In a commercial bank's T-account, reserves and outstanding loans are recorded as:
A. debts. B. profits. C. assets. D. liabilities.