Author Question: In the figure above, how can the economy represented by the production possibilities frontier move ... (Read 52 times)

panfilo · **on:** Jun 29, 2018

In the figure above, how can the economy represented by the production possibilities frontier move from point C to point F?

A) Increase the available amount of resources.
B) Increase the level of technology.
C) Redistribute the existing resources to produce more apples and fewer oranges.
D) First move to point B and then move to point F.

Question 2

If profit is commonly defined as total revenue minus total cost, then

A) there is no way to measure losses.
B) a negative profit implies a loss.
C) losses can only be measured as total cost minus total revenue.
D) profits must always equal losses.