The production possibilities frontier is used by economists to depict
A) the strictly financial costs of production.
B) the opportunity costs of production.
C) the strictly financial benefits of production.
D) the opportunity benefits of production.
B
Economics
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In the short run, an increase in real GDP will
a. increase unit costs and increase the price level b. increase unit costs and decrease the price level c. decrease unit costs and decrease the price level d. decrease unit costs and increase the price level e. have no effect on unit costs or the price level
Economics
Goods that are rival in consumption, but not excludable are:
A. a common resource. B. a private good. C. a public good. D. an artificially scarce good.
Economics