The figure above shows how the PPF for cell phones and new cell-phone factories can expand. In the figure, if the economy produced 4 million cell phones using the resources efficiently, the PPF would
A) expand farther than shown in the figure.
B) expand along the vertical axis and not along the horizontal axis.
C) expand, but not as far as shown in the figure.
D) expand evenly along both axes.
E) not expand.
C
Economics
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A. above the isoquant curve. B. below the production function. C. on the production function. D. above the production function.
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Ceteris paribus means:
A.) Leave the market alone. B.) Noninterference by the government. C.) Other things remaining equal. D.) Things are always changing.
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