When deriving the production possibilities curve, it is assumed that

A) the amount of each good that is to be produced is fixed.
B) the prices of resources are fixed along the curve.
C) most resources can be used to produce only one good.
D) resources are efficiently used.

Answer: D

Economics

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As the size of a tax increases, the government's tax revenue rises, then falls

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

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Refer to the diagram. The firm will realize an economic profit if price is:



A.  P 1 .
B.  P 2 .
C.  P 3 .
D.  P 4 .

Economics