Figure 51 the Figure Shows a Linear Production Possibility Curve Representing

question 45

Multiple Choice

Figure 5.1. The figure shows a linear production possibility curve representing a tradeoff faced by a country, between necessities and luxuries​.
-Refer to figure 5.1. Assume that the economy is initially at point G on the production possibility curve. ​To consume an amount of luxury good, shown by the distance O to L, the country will have to give up a quantity of necessity good, indicated by the distance _____.

• A)​G to N_I
• B)​G to N
• C)​N to A
• D)​A to B
• E)​N_I to B

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Definitions:

Northwest Airlines

A major airline based in the United States that operated until it merged with Delta Airlines in 2010.

Per Se Violations

In law, actions or situations that are inherently illegal and do not require further proof of illegality or intent to enforce penalties.

Acceptable Practices

Established norms or standards of behavior that are considered to be appropriate and acceptable within a specific field or context.

Business Practices

The methods, strategies, and procedures employed by companies in the design, production, marketing, and sale of their products and services.