Author Question: A production possibilities frontier will be bowed out if a. there is scarcity b. resources are ... (Read 68 times)

Garrulous · **on:** Jul 1, 2018

A production possibilities frontier will be bowed out if
a. there is scarcity
b. resources are used efficiently
c. production of one good involves an opportunity cost
d. resources are not perfectly adaptable to making each good
e. technology is improving

Question 2

If the production possibilities frontier is a straight line,
a. its slope will equal -1
b. resources must not be used efficiently
c. resources must be unemployed
d. society must not be using the latest technology
e. resources must be equally adaptable at producing either product