Business, 18.09.2019 04:30 madams4450

An economy's production possibilities frontier: select one:
a. is based on the assumption that technology is constantly changing.
b. demonstrates that, although resources are scarce for individuals, there is no problem of scarcity for society as a whole.
c. is based on simplifying assumptions, but is still useful for illustrating scarcity, opportunity cost, and economic growth.
d. explain the immense complexity of the real economy.
e. is based on unrealistic assumptions and therefore has no value as an economic tool.

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An economy's production possibilities frontier: select one:
a. is based on the assumption t...

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