Use the Following to Answer Question(s)

question 59

Multiple Choice

Use the following to answer question(s) :
Exhibit: Guns and Butter

-(Exhibit: Guns and Butter) This production possibilities curve is:

• A) linear and because of the constant cost and
• B) bowed in toward the origin because of increasing opportunity costs.
• C) bowed in toward the origin because of constant cost of guns and butter.
• D) bowed out from the origin because of increasing opportunity costs.

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Definitions:

Undisclosed Principal

A principal whose identity is concealed from the third parties with whom the agent is dealing; the rights and obligations of the parties depend on whether the agent makes it clear that she is representing an undisclosed principal rather than operating on her own behalf.

Continuing Business

An ongoing enterprise that maintains its operations over time, adapting to changes as necessary to remain viable.

Consent

Agreement or permission for something to happen, given by someone with full understanding of what is involved.

Modified

Changed or adjusted from the original form, purpose, or condition.