The country whose production possibilities frontier is illustrated above is currently at position A on the production possibilities frontier. If it wishes to move to position B, it will
A) find this change impossible to achieve given the resources it currently possesses.
B) have to employ all currently unemployed resources to accomplish this.
C) incur an opportunity cost of having to give up some butter in order to make the additional amount of guns desired.
D) be able to make the desired switch only if there is a significant improvement in the technology available to the nation.
C
Economics
You might also like to view...
If the price of a British pound increases, more Britons will be willing to supply pounds to the foreign exchange market
a. True b. False
Economics
Which would concern you most, a 5 percent increase in concentration in a market where the four-firm concentration ratio is 3 percent, 42 percent or 85 percent? Explain your reasoning
Economics