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Suppose there are only two goods produced in our economy-snowplows and helicopters. If there is ...

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Suppose there are only two goods produced in our economy-snowplows and helicopters. If there is ...

Suppose there are only two goods produced in our economy-snowplows and helicopters. If there is always a two-for-one tradeoff between the production of these two goods (in terms of opportunity cost), then the production possibilities boundary between snowplows and helicopters is

▸ circular.

▸ a downward-sloping straight line.

▸ a downward-sloping curve concave to the origin.

▸ a downward-sloping curve convex to the origin.

▸ a downward-sloping straight line with slope equal to -1.

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Microeconomics

Edition: 17^th

Author: Ragan

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Brilliant ツ

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