The shape of a PPC illustrates the type of opportunity costs involved in production. What type of costs do PPC1 and PPC2 illustrate? A. PPC1 illustrates constant opportunity costs and PPC2 illustrates increasing opportunity costs. B. PPC1 illustrates constant opportunity costs and PPC2 illustrates decreasing opportunity costs. C. PPC1 illustrates increasing opportunity costs and PPC2 illustrates decreasing opportunity costs. D. PPC1 illustrates increasing opportunity costs and PPC2 illustrates constant opportunity costs. E. PPC1 illustrates decreasing opportunity costs and PPC2 illustrates constant opportunity costs.
The shape of a PPC illustrates the type of opportunity costs involved in production. What type of costs do PPC1 and PPC2 illustrate? A. PPC1 illustrates constant opportunity costs and PPC2 illustrates increasing opportunity costs. B. PPC1 illustrates constant opportunity costs and PPC2 illustrates decreasing opportunity costs. C. PPC1 illustrates increasing opportunity costs and PPC2 illustrates decreasing opportunity costs. D. PPC1 illustrates increasing opportunity costs and PPC2 illustrates constant opportunity costs. E. PPC1 illustrates decreasing opportunity costs and PPC2 illustrates constant opportunity costs.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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The shape of a PPC illustrates the type of
A. PPC1 illustrates constant opportunity costs and PPC2 illustrates increasing opportunity costs.
B. PPC1 illustrates constant opportunity costs and PPC2 illustrates decreasing opportunity costs.
C. PPC1 illustrates increasing opportunity costs and PPC2 illustrates decreasing opportunity costs.
D. PPC1 illustrates increasing opportunity costs and PPC2 illustrates constant opportunity costs.
E. PPC1 illustrates decreasing opportunity costs and PPC2 illustrates constant opportunity costs.
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