1. Production possibilities curve ABCDE is bowed out from the origin (concave to the origin) because: a....

Question:

1. Production possibilities curve ABCDE is bowed out from the origin

(concave to the origin) because:

a. the marginal benefit of pizzas declines as more pizzas are consumed.

b. the curve gets steeper as we move from E to A.

c. it reflects the law of increasing opportunity costs.

d. resources are scarce.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Microeconomics : Microeconomics: Principles, Problems, And Policies

ISBN: 9781631577277

1st Edition

Authors: McConnell / Stanley L. Brue / Thomas P. Barbiero

See More Books

Question Posted: Nov 07, 2024 03:00 AM

See More Questions

1. Production possibilities curve ABCDE is bowed out from the origin because: a. the marginal benefit of pizzas declines as more pizzas are consumed. b. the curve gets steeper as we move from E to A....
Surch answer Q1. In accepting a job, you incur an opportunity cost. a. true b. false Q2. A rightward shift of the production possibilities curve represents economic growth. a. true b. false Q3. The...
Final_Exam_Macro Question 1 (2 points) Purchasing-power panty theory does not hold at all times because many goods are not easily transported and the same goods produced in different countries may be...
Dew Company employs standard costing and applies overhead based upon machine labor hours. Monthly production is scheduled at 500 units. Standard and actual data for the month is as follows: Standards...
If the prices in the equation between price and quantity are expressed in a different currency (such as euros at 1.2 per dollar), How does the elasticity change? Choose the correct answer below. a....
How many times will the incident beam shown in Figure P35.8 be reflected by each of the parallel mirrors? Mirror Mirror 1.00 m Incident beam 5.00 1.00 m
1. Production possibilities curve ABCDE is bowed out from the origin (concave to the origin) because: a. the marginal benefit of pizzas declines as more pizzas are consumed. b. the curve gets steeper...
How do the concepts of cognitive dissonance, organizational dissonance, and ethical dissonance relate to whether an accountant might choose to blow the whistle on corporate wrong doing?
Suppose a random variable, x, follows a Poisson distribution. Let the expected value = 1.25 every minute, find the P(x=125) over an hour
8 10 12 14 16 18 20 22 24 26 28 Question 6 B B' A ' A Y 0
4. All points on this production possibilities curve necessarily represent: a. allocative efficiency. b. less than full use of resources. c. unattainable levels of output. d. productive efficiency.
Gravity-powered roller coasters have a motorized chain assembly that hauls the cars up to the top of the first hill. No additional source energy is supplied for the rest of the trip. What is the...
The disputed island between Russia and Japan are.....?
Find the area of the surface that is generated by revolving the portion of the curve x=y^{3} between y-0 and y-1 about y-axis.
Sayan mountains are found in the....?
Which of the city like furthest east ?
Russian citys has the highest population?
Geosynclines Jronous Satellites many satellites are moving in a circle in the earth's equatorial plane. They are at such a height above the earth's surface that they always remain above the same...
How do individual companies respond to economic forces throughout the globe? One way to explore this is to see how well rates of return for stock of individual companies can be explained by stock...

1. Production possibilities curve ABCDE is bowed out from the origin (concave to the origin) because: a....

Question:

Step by Step Answer:

Microeconomics : Microeconomics: Principles, Problems, And Policies

Students also viewed these Business questions