For a Farm Producing Two Crops and Operating on the Production

question 49

Multiple Choice

For a farm producing two crops and operating on the Production Possibilities Frontier (curve) where revenue is maximized, a reduction in the price of one crop will:

• A) shift the Production Possibilities Frontier (curve) inward
• B) shift the isorevenue line outward
• C) increase the costs of production
• D) none of the other answers

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Definitions:

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The science of touch and its applications, particularly in technology to simulate the experience of touch.

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