Question
1. Use the graph attached to answer the prompt. The shape of this production possibilities curve illustrates. A. That the producers resources are equally suited
1. Use the graph attached to answer the prompt. The shape of this production possibilities curve illustrates. A. That the producers resources are equally suited to produce good A and good B. B. That it would be in efficient to produce only good A or only good B. C. The increasing opportunity cost of changing production from A to B or vice versa. D. Constant opportunity cost for producing A and B. E. Decreasing marginal utility for the consumption of both goods. 2. A production possibilities curve would ________ if the availability of an input increased and would _______ if new technology increased production efficiency. A. Shift outward; shift inward. B. Not move; shift outward. C. Not move; not move. D. Shift outward; shift outward. E. Shift inward; shift inward. 3. How would economic growth be reflected on a production possibilities curve? A. Movement along the curve. B. Not reflected on the PPC. C. Shift outward of entire curve. D. Shift inward of entire curve. E. Stretching along a range of the curve.
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