Refer to Exhibit 2-1. The PPF illustrates constant opportunity costs between guns and butter. O that guns are more important than butter. O increasing opportunity costs between guns and butter. O the opportunity cost of one unit of guns is four units of butter.

Refer to Exhibit 2-1. The PPF illustrates constant opportunity costs between guns and butter. O that guns are more important than butter. O increasing opportunity costs between guns and butter. O the opportunity cost of one unit of guns is four units of butter.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter2: Choice In A World Of Scarcity

Section: Chapter Questions

Problem 2SCQ: Return to the example in Figure 2.4. Suppose there is an improvement in medical technology that...

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Question

80
70
Guns (thousands of units)
8
888
60
50
40-
30
10
0 10
20 30 40 50 60 70 80
Butter (thousands of units)
Refer to Exhibit 2-1. The PPF illustrates
O constant opportunity costs between guns and butter.
O that guns are more important than butter.
increasing opportunity costs between guns and butter.
O the opportunity cost of one unit of guns is four units of butter..
none of the above

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