The Shape of the Production Possibilities Frontier in Figure 3-1

question 250

Multiple Choice

The shape of the production possibilities frontier in Figure 3-1 implies that

• A) some resources are better suited for producing wheat than for producing barley.
• B) the opportunity cost of producing more wheat falls as wheat production rises.
• C) the farmer's technology is not subject to the principle of increasing costs.
• D) the financial cost of producing wheat is higher than the financial cost of producing barley.

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