Assume That Society Is Operating on Its Concave Production Possibilities

question 126

Multiple Choice

Assume that society is operating on its concave production possibilities frontier.As more and more units of the good on the horizontal axis are produced,

• A) more and more total resources are employed in the two industries combined
• B) larger and larger amounts of the good on the vertical axis must be sacrificed
• C) fewer and fewer total resources are employed in the two industries combined
• D) more and more units of the good on the vertical axis will be produced
• E) smaller and smaller amounts of the good on the vertical axis must be sacrificed

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