-Refer to the Production Possibility Graph Above

question 29

Multiple Choice

-Refer to the production possibility graph above. Assume that the economy is in equilibrium at point e. If the price of good B increases, the new equilibrium is most likely to be

• A) point b.
• B) point h.
• C) point f.
• D) point d.
• E) point e.

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Definitions:

Compact Discs

Digital optical disc data storage format, commonly used for storing music and other data.

LP Records

Long-playing vinyl records, a format for sound recording and playback that gained popularity in the mid-20th century.

Phonograph

An early sound-reproducing machine that used cylinders or discs to record and reproduce sound mechanically.

Liberal Judges

Judges who are generally open to reform and are often associated with advocating for civil liberties and rights.