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Author Question: The production possibilities frontier illustrates A) the maximum amount of inputs used to produce ... (Read 101 times)

nummyann

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on: Jun 29, 2018
The production possibilities frontier illustrates
 
  A) the maximum amount of inputs used to produce a particular output.
  B) the minimum amount of inputs used to produce a particular output.
  C) the maximum combination of two goods that can be produced with a given set of resources.
  D) the minimum combination of two goods that can be produced with a given set of resources.
  E) none of the above.

Question 2

A consumer has 100 to be spent on tables and chairs. If his income increases to 200, the prices of the goods remaining unchanged, his budget constraint:
 
  A) pivots to the left along the vertical axis.
  B) pivots to the right along the horizontal axis.
  C) shifts to the left.
  D) shifts to the right.


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mistyjohnson

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

C

Answer to Question 2

D


nummyann

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Reply 2 on: Jun 29, 2018
Excellent

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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