Which of the following statements is true? a. The law of increasing opportunity costs assumes that all people have the same ability to produce goods. b. In a world of inefficiently used scarce resources, more production of one good necessarily means less production of some other good. c. Efficiency implies that it is impossible to get more of one good without getting less of another. d. Even if a country has unemployed resources, it can still be operating on its production possibilities frontier (PPF).

Which of the following statements is true? a. The law of increasing opportunity costs assumes that all people have the same ability to produce goods. b. In a world of inefficiently used scarce resources, more production of one good necessarily means less production of some other good. c. Efficiency implies that it is impossible to get more of one good without getting less of another. d. Even if a country has unemployed resources, it can still be operating on its production possibilities frontier (PPF).

Economics For Today

10th Edition

ISBN:9781337613040

Author:Tucker

Publisher:Tucker

Chapter2: Productions Possibilities, Opportunity Costs, And Economic Growth

Section: Chapter Questions

Problem 8SQ

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