If a production possibilities curve for books and magazines is straight, then
A) the opportunity cost of increasing book production remains constant regardless of the total quantity produced.
B) the opportunity cost of increasing book production continues to decline as total production increases.
C) the opportunity cost of increasing book production continues to increase as total production increases.
D) the opportunity cost of increasing book production is independent of the shape of the curve.
A) the opportunity cost of increasing book production remains constant regardless of the total quantity produced.
You might also like to view...
Which region has the highest proportion of its children working?
What will be an ideal response?
Which of the following is NOT one of the reasons for declining union membership in the United States?
A) The economy has shifted away from manufacturing. B) The AFL-CIO merger and creation of the Change to Win Federation reduced competition among unions. C) Some industries have been deregulated. D) Labor force participation by women has increased.
What are the macroeconomic implications from the recent increase in trend rate productivity?
Please provide the best answer for the statement.
Which of the following might be a final good?
A) A box of Kellogg's corn flakes B) An iMac computer C) A U-Haul rental vehicle D) An economics textbook E) Any of the above might be, depending upon who is purchasing it.