Author Question: A bowed outward production possibilities frontier occurs when A) opportunity costs are constant. ... (Read 114 times)

Ebrown

  • Hero Member
  • *****
  • Posts: 567
A bowed outward production possibilities frontier occurs when
 
  A) opportunity costs are constant.
  B) resources are not scarce.
  C) as more of a good is produced, producing additional units of it require greater reductions in the other good.
  D) the society is operating on the production possibilities frontier.

Question 2

The above figure shows the U.S. market for 1 carat diamonds. With free trade, the United States produces ________ diamonds and imports ________ diamonds.
 
  A) 300,000; 600,000
  B) 0; 900,000
  C) 100,000; 900,000
  D) 100,000; 800,000
  E) 500,000; 400,000



b614102004

  • Sr. Member
  • ****
  • Posts: 320
Answer to Question 1

C

Answer to Question 2

D



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Although puberty usually occurs in the early teenage years, the world's youngest parents were two Chinese children who had their first baby when they were 8 and 9 years of age.

Did you know?

Medications that are definitely not safe to take when breastfeeding include radioactive drugs, antimetabolites, some cancer (chemotherapy) agents, bromocriptine, ergotamine, methotrexate, and cyclosporine.

Did you know?

The ratio of hydrogen atoms to oxygen in water (H2O) is 2:1.

Did you know?

Over time, chronic hepatitis B virus and hepatitis C virus infections can progress to advanced liver disease, liver failure, and hepatocellular carcinoma. Unlike other forms, more than 80% of hepatitis C infections become chronic and lead to liver disease. When combined with hepatitis B, hepatitis C now accounts for 75% percent of all cases of liver disease around the world. Liver failure caused by hepatitis C is now leading cause of liver transplants in the United States.

Did you know?

Calcitonin is a naturally occurring hormone. In women who are at least 5 years beyond menopause, it slows bone loss and increases spinal bone density.

For a complete list of videos, visit our video library