If the production possibilities curve was a straight line, this would – McqOptions

MCQOPTIONS

1.	If the production possibilities curve was a straight line, this would imply that
A.	Economic resources are perfectly substitutable, in the production of the two products
B.	Equal quantities of both products are produced at each possible point on the curve
C.	The two products will sell at the same market price
D.	The two products are equally important to consumers
Answer» D. The two products are equally important to consumers

Discussion

No Comment Found

Related MCQs

Foreign Direct Investment ceiling in the telecom sector have been raised from 74 percent to
If utensils worth Rs 1000 are produced with copper worth Rs 500, wages paid are Rs 100, other material purchased is worth Rs 100 and depreciation of machinery is zero, then what is the value added in process?
If the RBI adopted an expansionist open market operations policy, this means that it will
In pursuance with the recommendations of Narsimham Committee, the RBI has framed new guidelines
Our financial system has provided for the transfer of resources from the centre to the states; the important means of resource transfers are
Which of the following is the most appropriate cause of export surplus?
On which one of the following is the benefits received principle of taxation to achieve optimality bases?
India’s share in textiles trade of the world is:
The first multi–purpose river valley project of independent India is:
Which company has started a rural marketing network called e-Chaupals?