Figure 2.1 -On the Production Possibilities Curve in Figure 2.1,the Opportunity Costs

question 178

Multiple Choice

Figure 2.1
-On the production possibilities curve in Figure 2.1,the opportunity costs of increasing agricultural production from 400 tons to 600 tons is ________ tons of manufactured products.

• A) 600
• B) 500
• C) 200
• D) 100

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Definitions:

Limestone

Limestone is a sedimentary rock composed mainly of calcium carbonate, used in the construction industry and for producing lime, cement, and other materials.

Ambrosia

In mythology, the food or drink of the gods, often depicted as conferring immortality; in the modern context, it can refer to something extremely pleasing to taste or smell.

Red-money Income

Is not a standard economic term and may refer to disposable income after taxes, but without an established definition, it's speculative.

Trust

A firm belief in the reliability, truth, ability, or strength of someone or something, often considered fundamental in social, economic, and political relationships.