An outward rotation of the production possibilities frontier occurs when
A) traders specialize in and exchange the products of their comparative advantage.
B) one trader steals from the other.
C) traders produce goods at exactly the same levels of opportunity cost.
D) one trader begins to produce both goods at a higher level of opportunity cost compared to the other.
A
Economics
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The slope of the scatter diagram representing the relationship between consumption and disposable income in the United States is approximately
A. 1.10. B. 0.30. C. 0.50. D. 0.90.
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Which of the following is true of a perfectly contestable market?
A. P > MC and P < ATC B. P < ATC C. P = MC D. P > MC
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