6.If an economy is on its production possibility frontier, then

Group of answer choices

All of these answers are correct.

the economy is not producing as much as it could.

technological progress is rapid.

the economy cannot produce more of any good without producing less of some other good.

the economy is producing the best possible combination of goods.

7

The principle of comparative advantage says that

Group of answer choices

you should specialize in producing goods for which your opportunity costs are relatively low.

you should compare prices before you buy a good or service.

you should specialize only if you can produce something at a lower average cost than other economic actors.

trading is generally prohibited by high transactions costs.

8. The table below shows the maximum quantities of two goods that each country can produce. According to this table, Wakanda's opportunity cost of producing one ton of vibranium is

	Vibranium (tons)	Gold (tons)
Wakanda	8 tons	2 tons
Zamunda	2 tons	1 ton

Group of answer choices

None of these answers is correct.

16 tons of gold.

1/4 tons of gold.

4 tons of gold.

2 tons of gold.

9

The table below shows the maximum quantities of two goods that each country can produce. According to this table, Zamunda's opportunity cost of producing one ton of vibranium is

	Vibranium (tons)	Gold (tons)
Wakanda	8 tons	2 tons
Zamunda	2 tons	1 ton

Group of answer choices

16 tons of gold.

2 tons of gold.

None of these answers is correct.

1/2 tons of gold.

1 ton of gold.