Given Below Is the Production Possibilities Schedule for a Small

question 33

Multiple Choice

Given below is the production possibilities schedule for a small island nation in South Pacific that produces capital and consumer goods.Table 2.3

-Consider the production possibilities curve [PPC] for a country producing only cheese and wine. The first few resources transferred from cheese to wine production are:

• A)those that are most specialized in cheese production.
• B)those that are most specialized in wine production.
• C)those that are least specialized in cheese production.
• D)those that are neither specialized in cheese nor wine production.
• E)those that are highly specialized in both cheese and wine production.

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Definitions:

Simplify

The process of reducing an expression to its most basic form or smallest possible components.

Evaluate

Finding out the numerical value associated with an expression.

Ordered Pairs

A pair of elements arranged in a specific order, typically (x, y), representing coordinates on a Cartesian plane.

Function

A mathematical relation between a set of inputs and a set of possible outputs, where each input is related to exactly one output.