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Author Question: Generally, opportunity costs increase and the production possibilities frontier bows outward. Why? ... (Read 64 times)

lb_gilbert

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on: Jun 29, 2018
Generally, opportunity costs increase and the production possibilities frontier bows outward. Why?
 
  A) Unemployment is inevitable.
  B) Resources are not equally useful in all activities.
  C) Technology is slow to change.
  D) Labor is scarcer than capital.

Question 2

Which of the following is likely to lead to a left shift in the demand curve for labor in the petroleum extraction industry?
 
  A) An increase in the wage rate
  B) A decrease in the wage rate
  C) An increase in the price of cars
  D) An increase in the price of petroleum


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KKcool

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

C


lb_gilbert

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

olderstudent

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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