The slope of a producer's production possibilities frontier represents the producer's
A) sunk costs of production.
B) average costs of production.
C) marginal costs of production.
D) total costs of production.
C
Economics
You might also like to view...
A fall in marginal utility reflects:
a. the water and diamond paradox. b. the law of supply. c. the principle of diminishing marginal utility. d. decreased consumption of a good. e. the fact that total utility must be declining.
Economics
Since 1948, the history of real wage rates generally shows that
a. prices and wages have risen at the same rate. b. prices have risen at a slower rate than wages. c. prices have risen faster than wages. d. real wages have remained constant over the period.
Economics