Author Question: A bowed outward production possibilities frontier occurs when A) opportunity costs are constant. ... (Read 101 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?

It is believed that the Incas used anesthesia. Evidence supports the theory that shamans chewed cocoa leaves and drilled holes into the heads of patients (letting evil spirits escape), spitting into the wounds they made. The mixture of cocaine, saliva, and resin numbed the site enough to allow hours of drilling.

Did you know?

Multiple sclerosis is a condition wherein the body's nervous system is weakened by an autoimmune reaction that attacks the myelin sheaths of neurons.

Did you know?

More than 34,000 trademarked medication names and more than 10,000 generic medication names are in use in the United States.

Did you know?

Anesthesia awareness is a potentially disturbing adverse effect wherein patients who have been paralyzed with muscle relaxants may awaken. They may be aware of their surroundings but unable to communicate or move. Neurologic monitoring equipment that helps to more closely check the patient's anesthesia stages is now available to avoid the occurrence of anesthesia awareness.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

For a complete list of videos, visit our video library