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13 Dec 2019

A certain production possibilities frontier shows production possibilities for two goods: pants and shirts. Which of the following concepts can not be illustrated in this model?

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Deanna Hettinger
Deanna HettingerLv2
17 Dec 2019
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Related questions

2) Which one of the following concepts is not illustrated by a production possibilities frontier? A) monetary exchange B) scarcity C) attainable and unattainable points D) opportunity cost E) the tradeoff between producing one good versus another Use the table below to answer the following questions. Table 1 Production Possibilities Possibility Kilograms of Butter Guns

11) Which one of the following concepts is illustrated by a production possibilities frontier? A) profit B) the tradeoff between producing one good versus another C) consumption D) monetary exchange E) investment

Which of the following is a correct statement about the production possibilities frontier?

a) An economy can produce only on the production possibilities frontier.

b) An economy can produce at any point inside or outside a production possibilities frontier.

c) An economy can produce at any point on or inside the production possibilities frontier, but not outside the frontier.

d) An economy can produce at any point inside the production possibilities frontier, but not on or outside the frontier.

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