101.The production possibilities table below shows the hypothetical relationship between the production of capital goods and consumer goods in an economy.
Test Bank for Essentials of Economics 3rd Edition by Brue
Full file at https://traloihay.net
Refer to the table above. What is the opportunity cost of producing the first three units of capital goods?6 units of consumer goods7 units of consumer goods→ 15 units of consumer goods22 units of consumer goodsProducing the first three capital goods requires giving up 15 (22 - 7 = 15) consumer goods. AACSB: AnalyticBlooms: UnderstandDifficulty: 2 MediumLearning Objective: 01-05 Apply production possibilities analysis; increasing opportunity costs; and economic growth.Multiple Choice Question Topic: Production possibilities model
Bạn đang xem 101. - TEST BANK FOR ESSENTIALS OF ECONOMICS 3RD EDITION BY BRUE
