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Author Question: A point inside a production possibilities curve reflects: a. the law of increasing costs. b. ... (Read 29 times)

washai

  • Hero Member
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  • Posts: 523
on: Jun 30, 2018
A point inside a production possibilities curve reflects:
 a. the law of increasing costs.
  b. technological innovation.
  c. less than full use of resources and technology.
  d. economic efficiency.
  e. a way to increase future economic growth.

Question 2

Which of the following is true about the production possibilities curve when a technological progress occurs? The curve:
 a. shifts inwards to the left.
  b. becomes flatter at one end and steeper at the other end.
  c. becomes steeper.
  d. shifts outward to the right.
  e. does not change.


nicoleclaire22

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  • Posts: 318
Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

d


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