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Production Curves Quiz | Questions with 100% Correct Answers | Updated & Verified
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Approximately 200 people are working on developing a new community just outside a major city. Unlike other communities in the area, the development will feature innovative amenities such as solar po... wered houses, bike paths, and small, locally owned stores. The decision to include these amenities is an example of which factor of production? - ✔✔entrepreneurship Which economic scenario best describes the idea of unattainability? - ✔✔A country wants to produce 10 units of good A and 12 units of good B but can produce only 5 units of good A and 4 units of good B Which economic scenario best describes the idea of underutilization? - ✔✔A country cannot produce more units of good A without producing fewer units of good B A construction company plans to build a certain number of apartment buildings and stores on a piece of land. This PPC shows the combination of projects it can build. If the amount of land available to the company increases, the PPC will... - ✔✔Shift to the right A construction company plans to build a certain number of apartment buildings and stores on a piece of land. This PPC shows the combination of projects it can build. If the company is producing at point C, the opportunity cost of building 3 more stores will be ___ apartment buildings. - ✔✔3 [Show More]
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