The production possibilities frontier shows the ________ combinations of two products that can be produced in a particular time period with available resources

An economist's measurement of profit differs from an accountant's in that: a. accountants calculate total revenue differently than do economists

b. economists do not always include all of the opportunity costs when calculating total production costs. c. accountants do not always include all of the opportunity costs when calculating total production costs. d. economic profit generally exceeds accounting profit.

Other things remaining unchanged, the longer the time period under consideration, the greater will be the price elasticity of demand

a. True b. False Indicate whether the statement is true or false