Refer to Figure 2.1. If the relative cost of steel were to rise, then the production possibilities frontier would
a. become steeper.
b. become flatter.
c. shift inward in a parallel manner.
d. shift outward in a parallel manner.
a. become steeper.
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Fill in the blank(s) with the appropriate word(s).
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Answer the following statement true (T) or false (F)