When Constructing a Production Possibilities Frontier,which of the Following Assumptions

question 59

Multiple Choice

When constructing a production possibilities frontier,which of the following assumptions is not made?

• A)The economy produces only two goods or two types of goods.
• B)Firms produce goods using factors of production.
• C)The technology available to firms is given.
• D)The quantities of the factors of production that are available are increasing over the relevant time period.

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Definitions:

Management Hierarchy

The arrangement of individuals within an organization according to power, status, and job functions, creating a structured chain of command.

Supervisors

Individuals within an organization responsible for overseeing the work of others and ensuring tasks are completed effectively.

Line Organization

Organizational structure that establishes a direct flow of authority from the chief executive to subordinates.

Matrix Organizational Structure

An organizational structure that combines two or more types of organizational structures, typically functional and product-based divisions.