The production possibilities curve illustrates the basic principle that:   Question 70 options:   an economy automatically seeks that level of output that employs all of its resources   any production point below the curve reflects high opportunity cost   the production of more of any one item will in time require smaller and smaller sacrifices of other items   if all the resources of an economy are fully used, more of one item could be produced only if less of another item is produced   any production point above the curve reflects low opportunity cost

Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter1: What Is Economics
Section: Chapter Questions
Problem 22AA
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The production possibilities curve illustrates the basic principle that:

 

Question 70 options:

 

an economy automatically seeks that level of output that employs all of its resources

 

any production point below the curve reflects high opportunity cost

 

the production of more of any one item will in time require smaller and smaller sacrifices of other items

 

if all the resources of an economy are fully used, more of one item could be produced only if less of another item is produced

 

any production point above the curve reflects low opportunity cost

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