Which concept is NOT illustrated by the production possibilities frontier?    A. tradeoffs  B. efficiency  C. opportunity cost  D. equity

appy nomics entor Okay, so if I want one more bottle of water, what does this cost me in terms of fish? The opportunity cost of one more bottle of water is 1/2 fish. Happy Economics Mentor That is correct! If I think about the different combinations of fish and water I can produce in a day as a Rhonda Submit Rhonda production possibilities frontier (PPF), which of these PPFS has the correct shape? Choose an image response on the right Rhonda Fish Straight Line PPF Fish Concave PPF

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Draw a production possibilities frontier diagram for a farm able to produce corn or soybeans. What does a production possibilities frontier illustrate?

State the main characteristics of a Market Economy and explain how Market Economy works?

What markets trade economic resources, list and define each market.

The production possibilities frontier curve illustrates that   a. an economy's capacity to produce is unrelated to its population.   b. if all the resources of an economy are being used efficiently, more of one good can be produced only if more of another good is produced.   c. an economy will automatically move toward a point at which all of its resources are being used inefficiently.   d. if all the resources of an economy are being used efficiently, more of one good can be produced only if less of another good is produced.

Complete the following sentence. Marginal cost Select one: A. remains constant. B. is the opportunity cost of producing one more unit of a good or service. C. is unrelated to the production possibilities frontier. D. is always greater then marginal benefit. E. always equals marginal benefit.

Use the table to answer questions 1. What is the oppourtonity cost of producing 800 tons of fruit instead of 450?

OSA Moving from point B to D Good Y A O A. ii only OB. i and ii C O C. i only O D. i, ii and iii B D i. Economic growth takes place ii. The production technique for producing good Y remains the same iii. More of both goods can be produced Good X