Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Question 8
Assume that country X produces two goods-sugar and shoes-and that the country's production
possibility curve is "bowed-out." As the country produces more sugar the opportunity cost of sugar
in terms of shoes foregone will:
O remain unchanged.
O increase.
O decrease.
initially increase and then decrease..
Transcribed Image Text:Question 9
A production possibilities curve that is a straight line represents the case of
constant costs.
constant opportunity costs but decreasing real costs.
O constant opportunity costs but increasing real costs.
increasing costs.
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