The impact of economic growth on a country's willingness to trade is determined solely by the extent of the shift of its production-possibility curve.

Although the efficient quantity to produce of any good is located where marginal social benefit and marginal social cost are equal, there will usually be other quantities where the sum of consumer and producer surplus are greater

Indicate whether the statement is true or false

Amy can produce either 5000 pounds of cheese or 20 cars per year. Mike can produce either 5000 pounds of cheese or 10 cars per year. Mike's opportunity cost of producing one car is ________ pound(s) of cheese.

A. 1/250 B. 500 C. 1/20 D. 250