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Matthew Chong
on Oct 09, 2024

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The negative slope of the production possibilities curve is a graphical way of indicating that:

A) any economy "can have its cake and eat it too."
B) to produce more of one product we must do with less of another.
C) the principle of increasing opportunity costs applies to only parts of the economy.
D) consumers buy more when prices are low than when prices are high.

Production Possibilities Curve

A graphical representation showing the maximum combination of goods or services that can be produced with given resources and technology.

Negative Slope

A feature of a line on a graph that indicates a decrease in the dependent variable as the independent variable increases.

  • Ascertain the importance of opportunity costs in decisions related to economics and the allocation of resources.
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rachel delatorreOct 09, 2024
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