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Author Question: A farmer has 100 acres of land on which he can grow soybeans or corn. An acre of land yields 200 ... (Read 304 times)

chandani

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  • Posts: 541
on: Jun 29, 2018
A farmer has 100 acres of land on which he can grow soybeans or corn. An acre of land yields 200 bushels of soybeans or 100 bushels of corn. The above figure refers to the farmer's
 
  A) production possibilities curve.
  B) substitution options curve.
  C) demand curve.
  D) opportunity cost curve.

Question 2

In economic terminology, an inferior good is a good
 
  A) that no one will purchase.
  B) that doesn't work properly.
  C) that has no monetary value.
  D) for which demand increases as income decreases.


vish98

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

D


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