Refer to Figure 2-10, Panel (a) and Panel (b). Which of the following is not a result of the shift of the economy's production possibilities frontier from Panel (a) to Panel (b)? O a. The tradeoff between the production of tractors and sofas changes. O b. Production of 2 tractors and 10 sofas becomes efficient. O . Production of 6 tractors and 14 sofas becomes possible. O d. The opportunity cost of a sofa is higher at all levels of sofa production.

Refer to Figure 2-10, Panel (a) and Panel (b). Which of the following is not a result of the shift of the economy's production possibilities frontier from Panel (a) to Panel (b)? O a. The tradeoff between the production of tractors and sofas changes. O b. Production of 2 tractors and 10 sofas becomes efficient. O . Production of 6 tractors and 14 sofas becomes possible. O d. The opportunity cost of a sofa is higher at all levels of sofa production.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter2: Choice In A World Of Scarcity

Section: Chapter Questions

Problem 11RQ: What does a production possibilities frontier illustrate?

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