Question: the production possibilities frontier of an economy that devotes a...
Question details
The production possibilities frontier of an economy that devotes a certain amount of resources to produce wheat and textiles is shown below.
If the economy moves along the PPF from point K to point G to point H, the opportunity cost of _____, and if it moves from H to point G to point K, the opportunity cost of _____.
Question 24 options:
1 sq. yard of textiles decreases; 1 bushel of wheat decreases |
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1 bushel of wheat increases; 1 sq. yard of textiles increases |
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1 sq. yard of textiles increases; 1 bushel of wheat decreases |
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1 bushel of wheat decreases; 1 sq. yard of textiles increases |
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1 sq. yard of textiles increases; 1 bushel of wheat increases |
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