Author Question: The production possibilities frontier is used by economists to depict A) the strictly financial ... (Read 70 times)

K@ · **on:** Jun 29, 2018

The production possibilities frontier is used by economists to depict

A) the strictly financial costs of production.
B) the opportunity costs of production.
C) the strictly financial benefits of production.
D) the opportunity benefits of production.

Question 2

The cost of producing an additional unit of a good or service that is borne by the producer of that good or service

A) always equals the benefit the consumer derives from that good or service.
B) equals the cost borne by people other than the producer.
C) is the marginal private cost.
D) is the external cost.
E) is the marginal social cost.