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alex41 [277]
1 year ago
6

The production possibilities curve illustrates the notion of opportunity cost because:___.

Business
1 answer:
Ivenika [448]1 year ago
8 0

as more of one good is​ produced, less of the other can be produced.

<h3>What is production ?</h3>

Production is the process of merging diverse immaterial inputs (plans, knowledge) with material inputs to create something that is intended for consumption (output). It is the process of producing an output, a good or service that has value and enhances people's usefulness. Production theory, a branch of economics that focuses on production, is entwined with the consumption (or consumer) theory of economics.

Utilizing the initial inputs productively leads to the production process and output (or factors of production). Land, labor, and capital are regarded as the three major production components and are referred to as primary producer commodities or services. Both the output process and the final product do not considerably change these essential inputs or turn them into integral parts of the final product.

To learn more about production from the given link:

brainly.com/question/28211412

#SPJ4

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Answer:

B. there is a movement up along the demand curve to a smaller quantity demanded.

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Based on the laws of demand, if the price of the good rises the quantity demanded of that good would be reduced keeping other things constant and if the price of the good declines the quantity demanded of that good would be raised keeping other things constant.

It represents the inverse relation between the price and the quantity demanded of the good

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