If the production possibilities frontier is ________, then opportunity costs are constant as more of one good is produced
A) bowed out
B) bowed in
C) non-linear
D) linear
Answer: D
Economics
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Refer to the scenario above. The demand for Sporty's soccer balls is 1,250 units if ________
A) the price charged by Sporty is higher than the price charged by Go! B) the price charged by Go! is higher than the price charged by Sporty C) the price charged by Sporty is equal to the price charged by Go! D) the price charged by Sporty is higher than the cost of production of each ball
Economics
An inferior good is one in which
a. the average consumer chooses not to consume.
b. the good is not equally valued by all consumers.
c. an increase in income increases consumption of the good.
d. an increase in income decreases consumption of the good.
Economics