A production possibilities frontier will be bowed out if
a. there is scarcity
b. resources are used efficiently
c. production of one good involves an opportunity cost
d. resources are not perfectly adaptable to making each good
e. technology is improving
D
Economics
You might also like to view...
IF a period of substantial inflation, increasing gov. spending would _________
Fill in the blank(s) with the appropriate word(s).
Economics
Under a regulatory fair price,
a. price is driven to zero b. revenues would just be sufficient to cover costs c. price is set equal to marginal revenue d. profit is set at the monopoly level e. revenues would be set equal to marginal cost
Economics