ECO 365 Production Possibility Curve Assignment Help

ECO 365 Production Possibility Curve Assignment Help

1. Because you can only obtain more of one good by giving up some of another good, the shape of a production possibility curve is:

upward sloping.

perfectly vertical.

perfectly horizontal.

downward sloping

2. Refer to the table shown. The average product when eight workers are employed is:

_____6____

Number of workers Total Output

1 4

2 10

3 18

4 28

5 35

6 41

7 45

8 48

9 50

10 49

3. A resource is said to have a comparative advantage if:

it is equally suited to the production of all goods.

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