At a Perfectly Competitive Equilibrium with Production and Trade,the Slope

question 114

Multiple Choice

At a perfectly competitive equilibrium with production and trade,the slope of the production possibility curve will be

• A) equal to the slope of the price line faced by the consumers.
• B) steeper than the slope of the price line faced by consumers.
• C) flatter than the slope of the price line faced by consumers.
• D) either steeper or flatter than the price line faced by the consumers, depending upon the relative preferences of the consumers.

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Definitions:

Rationalization

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The long-term, persistent use of a substance or engagement in a behavior, often leading to dependency or addiction.

Inadequacy

The feeling or state of being insufficient or not good enough to meet a standard or fulfill a need.

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