FIGURE 1-5 -Refer to Figure 1-5.Suppose That the Relevant Production Possibilities Boundary

question 23

Multiple Choice

FIGURE 1-5
-Refer to Figure 1-5.Suppose that the relevant production possibilities boundary is the one labelled B.This boundary implies that

• A)the concept of opportunity cost is not at work in this economy.
• B)the opportunity cost of producing either capital goods or consumer goods does not depend on how much of each good is produced.
• C)consumer goods are preferred to capital goods.
• D)in this society the resources are not efficiently employed.
• E)capital goods are preferred to consumer goods.

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