1.2 Which of the following is NOT a primary factor of production? a) A business owner b) A doctor c) Five hectares of farmland d) An artisan 1.3 Which of the following is an assumption under which the production possibilities frontier is drawn? a) Total unemployment is zero. b) The supply of resources is fixed. c) The price level is changing. d) Technology is changing. In using tanks and trucks in a production possibilities curve with increasing opportunity cost, producing more and more tanks... 1.4 a) lowers the cost of each individual tank. b) can be done at constant opportunity cost. c) requires giving up larger and larger quantities of trucks per tank produced. d) is not possible due to scarcity. In Figure 1.1, which of the following points would the opportunity cost of producing one more SUV be highest? 1.5 Figure 1.1 a) A b) B c) C d) F

1.2 Which of the following is NOT a primary factor of production? a) A business owner b) A doctor c) Five hectares of farmland d) An artisan 1.3 Which of the following is an assumption under which the production possibilities frontier is drawn? a) Total unemployment is zero. b) The supply of resources is fixed. c) The price level is changing. d) Technology is changing. In using tanks and trucks in a production possibilities curve with increasing opportunity cost, producing more and more tanks... 1.4 a) lowers the cost of each individual tank. b) can be done at constant opportunity cost. c) requires giving up larger and larger quantities of trucks per tank produced. d) is not possible due to scarcity. In Figure 1.1, which of the following points would the opportunity cost of producing one more SUV be highest? 1.5 Figure 1.1 a) A b) B c) C d) F

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

What are somethings that are abundant in a community
Answer this question
Looking for sample grant proposals for nonprofit organization
Answer parts d and e
Summerize Business Government and Consumer culture
Can you please provide your work.
Select 6 online companies you are familiar with and visit their Web sites. How many of them have privacy policies posted on their sites? What are these policies?
A measure of the goods and services produced using labor and property in the us
How can the company consider quality Improvement?
Number 34
What do you consider the most important issue in your community?
how many days in a year