-In the Production Possibilities Frontier Depicted in the Figure Above

question 430

Multiple Choice

-In the production possibilities frontier depicted in the figure above, which of the following combinations of hats and bananas is unattainable?

• A) 4 million pounds of bananas and 4 million hats
• B) 2 million pounds of bananas and 5 million hats
• C) 0 pounds of bananas and 6 million hats
• D) 1 million pounds of bananas and 3 million hats

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Definitions:

Obligation

A legal or moral duty to do or not to do something, often resulting from a contract or promise.

Subrogation

The process by which one party assumes the legal rights of another party to collect a debt or claim.

Co-makers

Individuals or entities that jointly sign a loan or credit agreement, sharing equal liability for the repayment of the debt.

Cosureties

Two or more parties who jointly agree to guarantee the debt or obligation of another, sharing the liability.