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5. A production possibilities frontier shifts outward when the economy experiences economic growth b) the desires of the economy's citizens Change (at least one of the basic principles of economics is violated d) Opportunity costs are lessened..

5. A production possibilities frontier shifts outward when the economy experiences economic growth b) the desires of the economy's citizens Change (at least one of the basic principles of economics is violated d) Opportunity costs are lessened..

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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one that offers $35 per hour. The opportunity cost of choosing the job that offers him $50 per hour is a) $1.5 per hour b) 6) $15 per hour () $35 per hour 4) $85 per hour 5. A production possibilities frontier shifts outward when a) the economy experiences economic growth b) the desires of the economy's citizens Change () at least one of the basic principles economics is violated of d) Opportunity costs are lessened.
Transcribed Image Text:one that offers $35 per hour. The opportunity cost of choosing the job that offers him $50 per hour is a) $1.5 per hour b) 6) $15 per hour () $35 per hour 4) $85 per hour 5. A production possibilities frontier shifts outward when a) the economy experiences economic growth b) the desires of the economy's citizens Change () at least one of the basic principles economics is violated of d) Opportunity costs are lessened.
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  1. An economy's production possibilities frontier is fixed in the long run.

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     False

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