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Author Question: Of factors which affect any economy's production potential, the best two listed below are: a. ... (Read 28 times)

bobbie

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on: Jun 30, 2018
Of factors which affect any economy's production potential, the best two listed below are:
 a. resources and technology.
  b. prices and outputs.
  c. wages and prices.
  d. taxes and prices.
  e. resources and prices.

Question 2

A production possibilities curve has good X on the horizontal axis and good Y on the vertical axis. On this diagram, the opportunity cost of good X, in terms of good Y, is represented by the:
 a. distance to the curve from the horizontal axis.
  b. distance to the curve from the vertical axis.
  c. distance from the origin to the curve.
  d. change in Y for each change in X along the curve.


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6ana001

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

a

Answer to Question 2

d


bobbie

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Reply #2 on: Jun 30, 2018
Thank you


6ana001

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Reply #3 on: Jun 30, 2018
No problemo


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