If country A uses all of its resources efficiently, it can produce a maximum of 100 units of good X. If country A uses all of its resources efficiently, it can produce a maximum of 150 units of good Y. If country B uses all of its resources efficiently, it can produce a maximum of 75 units of good X. If country B uses all of its resources efficiently, it can produce a maximum of 125 units of good Y. Both countries have (linear) straight line PPFs. Which of the following must be true? check all that apply A and B have the same access to resources (inputs) A can produce more X than B with the same resources A can produce more Y than B could with the same resources B can produce Y at a lower opportunity cost than A
If country A uses all of its resources efficiently, it can produce a maximum of 100 units of good X. If country A uses all of its resources efficiently, it can produce a maximum of 150 units of good Y. If country B uses all of its resources efficiently, it can produce a maximum of 75 units of good X. If country B uses all of its resources efficiently, it can produce a maximum of 125 units of good Y. Both countries have (linear) straight line PPFs. Which of the following must be true? check all that apply A and B have the same access to resources (inputs) A can produce more X than B with the same resources A can produce more Y than B could with the same resources B can produce Y at a lower opportunity cost than A
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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If country A uses all of its resources efficiently, it can produce a maximum of 100 units of good X. If country A uses all of its resources efficiently, it can produce a maximum of 150 units of good Y.
If country B uses all of its resources efficiently, it can produce a maximum of 75 units of good X. If country B uses all of its resources efficiently, it can produce a maximum of 125 units of good Y.
Both countries have (linear) straight line PPFs.
Which of the following must be true? check all that apply
A and B have the same access to resources (inputs)
A can produce more X than B with the same resources
A can produce more Y than B could with the same resources
B can produce Y at a lower opportunity cost than A
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