Author Question: If opportunity costs are constant, then A) the production possibilities curve does not exist. B) ... (Read 112 times)

lb_gilbert · **on:** Jun 29, 2018

If opportunity costs are constant, then

A) the production possibilities curve does not exist.
B) the production possibilities curve bows outward.
C) the production possibilities curve is a negatively sloped straight line.
D) factors of production must not be fully employed.

Question 2

The rationality assumption states that

A) all actions taken by consumers are based on what is good for society.
B) people make decisions regardless of how the outcome will affect them.
C) people make decisions to buy only those goods that they need rather than goods that they want.
D) people do not intentionally make decisions that would leave them worse off.