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When production is characterized by opportunity costs, the resulting production possibilities frontier will be a straight line.

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Solution 1

The statement is correct. When production is characterized by constant opportunity costs, the resulting production possibilities frontier (PPF) will indeed be a straight line. Here's why:

  1. The production possibilities frontier represents all possible combinations of two goods that a country can p Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
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Similar Questions

The production combinations that fall directly on the production possibilities frontier (curve) are and efficient. (Use one word to fill in the blank.)

Why does the downward-sloping production possibilities curve imply that factors of production are scarce?

The production possibilities frontier (PPF) shows how much of two goods an economy can produce when it is using all available as efficiently as possible.

Choice is necessitated by _____.*1 pointA. demand and supplyB. cost of productionC. production possibility curveD. scarcity of resources

Another term for factors of production isGroup of answer choicesoutputs.revenues.inputs.costs.profits.

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