Question: Question 1 ( 2 points ) When constructing a production possibilities frontier, which of the following assumptions is not made?The economy produces only two goods
Question pointsWhen constructing a production possibilities frontier, which of the following assumptions is not made?The economy produces only two goods or two types of goods.Firms produce goods using factors of production.The technology available to firms is given.The quantities of the factors of production that are available are increasing over the relevant time period.
Question pointsConsider Luis's decision to go to college. If he goes to college, he will spend $ on tuition, $ on room and board, and $ on books. If he does not go to college, he will earn $ working in a store and spend $ on room and board. Luis's cost of going to college is$$$$
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