If an economy has to sacrifice only one unit of good X for each unit of good Y produced throughout the relevant range, then its production possibilities curve has a(n):

A) zero slope.
B) constant, negative slope.
C) increasing, negative slope.
D) decreasing, negative slope.


Ans: B) constant, negative slope.

Economics

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For a perfectly competitive firm, the value of the marginal product of labor falls as more workers are hired because of the diminishing

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