If production possibility frontier is linear it implies

Related MCQs

• Which of these statement is true about production possibility curve (PPC/PPF)
• Production possibility curves shows maximum combinations of -----products
• On the basis of the Keynesian model of output determination, a multiplier of 3 implies that
• Opportunity cost of increasing production of Gun to 3 units in combination D is –tons of bread
• Opportunity cost of increasing production of Gun to 4 units in combination E is –tons of bread
• Opportunity cost of increasing production of Gun to 5 units in combination F is –tons of bread
• Which of these costs will increase or decrease with increase in production
• If total production increases in the short run, the total cost will also……..
• Change in cost of production of the concerned goods causes
• The demand for a product is 25 units when the price is `10, however the demand rises to 26 when the price is reduced to `9.9 per unit. The marginal revenue from production and sale of additional unit from 25 to 26 is