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April 9, 2021

The-production possibilities

General Questions

The-production possibilities frontier will shift outward a if?

QUES 1.The production possibilities frontier will shift outward

a) if production occurs outside the production possibilities frontier.

b) if resources are used to produce consumption goods.

c) if resources are not used in production.

d) if technological advances occur.

QUES 2.What does increasing marginal opportunity costs mean?

QUES 3.Suppose you win free tickets to a movie plus all you can eat at the snack bar for free. Would there be a cost to you to attend this movie?

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