The production possibilities curve for capital and consumer goods is concave to the origin because:
a. of decreasing opportunity costs of production.
b. resources are not perfectly adaptable to the production of both goods.
c. both consumer goods and capital goods equally contribute to economic growth.
d. the level of technology along the frontier is assumed to vary.
e. of constant returns to scale.
Question 2
The Federal Trade Commission is charged with:
a. supervising cartels in the United States.
b. aiding small business in contract negotiations with foreign companies.
c. investigating unfair and deceptive trade practices.
d. approving contracts between businesses and government.
e. bringing criminal complaints.
In nest, under production
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