The Figure Given Below Shows the Post-Trade Production and Consumption

question 48

Multiple Choice

The figure given below shows the post-trade production and consumption points in country Y. AB is the production-possibility curve of country Y. I₁ is the community indifference curve of country Y. Here country Y's production-possibility curve indicates that it faces _____ marginal costs of production.

• A)constant
• B)increasing
• C)decreasing
• D)fluctuating

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Definitions:

Social Psychological Knowledge

Understanding derived from the scientific study of how individuals' thoughts, feelings, and behaviors are influenced by the actual, imagined, or implied presence of others.

Policy Decision Making

The process involved in creating rules or directives that guide the actions of an organization or system.

Types of Interventions

Various strategies and methods used to address and rectify problems across different contexts, such as psychological, educational, or social.

Constraints

Limitations or restrictions that affect the choices or actions of individuals or systems, ranging from physical barriers to social and psychological factors.