If a country produces good Y (measured on the vertical axis) and good X (measured on...
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If a country produces good Y (measured on the vertical axis) and good X (measured on the horizontal axis), then the absolute value of the slope of its production possibility frontier is equal to A.the opportunity cost of good X. B.the price of good X divided by the price of good Y. C.the price of good Y divided by the price of good X. D.the opportunity cost of good Y. E.the cost of capital (assuming that good Y is capital intensive) divided by the cost of labor. If a country produces good Y (measured on the vertical axis) and good X (measured on the horizontal axis), then the absolute value of the slope of its production possibility frontier is equal to A.the opportunity cost of good X. B.the price of good X divided by the price of good Y. C.the price of good Y divided by the price of good X. D.the opportunity cost of good Y. E.the cost of capital (assuming that good Y is capital intensive) divided by the cost of labor.
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Related Book For
Conceptual Physical Science
ISBN: 978-0134060491
6th edition
Authors: Paul G. Hewitt, John A. Suchocki, Leslie A. Hewitt
Posted Date:
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