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[DOC File]CHAPTER 5; TEST BANK
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Draw a (straight line) production possibilities curve for 1 worker in Greenland per day, placing the quantity of shoes on the horizontal axis (with units 1 and 2), and the quantity of floppy disks on the vertical axis (with units increasing by 1/3 from 1/3 to 3). Draw in the consumption possibilities curve for Greenland with free trade ...
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[DOC File]AP ECONOMICS CHAPTER 2 STUDY GUIDE TB2 - Weebly
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C) the production possibilities curve would be a straight line. D) the two products are of equal value to the economy. The production possibilities curve below shows the hypothetical relationship between the production of capital goods and consumer goods in an economy.
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[DOC File]CHAPTER 2 Exam - Scarcity and the World of Trade—offs
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24) A straight line production possibilities curve takes this shape because A) the opportunity cost of producing a good is constant. B) the opportunity cost of producing more of a good is decreasing. C) resources are better suited for producing one output than another.
ppc constant opportunity cost

[DOC File]AP ECONOMICS CHAPTER 1 STUDY GUIDE
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The production possibilities curve represents: A) the maximum amount of labor and capital available for production. ... the production possibilities curve would be a straight line. D) the two products are of equal value to the econ. 22. Which statement is an economic rationale for the law of increasing opportunity cost?
production possibility frontier straight line

[DOCX File]University of North Texas
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The Production Possibilities Curve, also known as the Production Possibilities Frontier, is a graphical representation of all potential allocations of two resources. The two resources are either capital goods, like guns and machines, or consumer goods, like food and shirts. ... The straight line shows a constant opportunity cost and the bowed ...
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[DOC File]Unit I: Basic Economic Concepts
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A straight-line production possibilities curve has an increasing opportunity cost. A straight-line production possibilities curve does not show opportunity cos.t. Upward-sloping production possibilities curve. 8. The law of increasing opportunity cost is reflected in the shape of the .
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[DOC File]Basic Economic Concept – Unit 1 – Homework Packet
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(C) A straight line production possibilities curve has an increasing opportunity cost. (D)A straight line production possibilities curve does not show opportunity cost. (E) There is no difference between the two production possibilities curves.
straight line ppf

[DOC File]Unit I: Basic Economic Concepts
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A straight-line production possibilities curve has an increasing opportunity cost. A straight-line production possibilities curve does not show opportunity cos.t. Upward-sloping production possibilities curve. 8. The law of increasing opportunity cost is reflected in the shape of the .
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[DOC File]Production-possibility frontier
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production-possibility frontier (PPF ... In the context of a PPF, opportunity cost is directly related to the shape of the curve. Unless a straight-line PPF is used, opportunity cost will vary depending on the start and end point. Thus, producing ten more packs of butter when only a little butter is being produced may carry with it small ...
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[DOC File]Chapter 2: Production Possibilities Curve, Scarcity, and ...
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II. A. Production Possibilities Curve. 1. We begin with a simplification of economic reality, one that imagines an economy creating only two goods. In the book an example is given of a society that has to choose which combination of beef and all–purpose machines to produce. ... The PPC is rarely depicted as a straight line. If it were, that ...
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Straight line production possibilities curve