According to the graph of the production possibilities frontier, what is the opportunity cost of the sixth widget? About two gizmo(s) About one-half gizmo(s) About three widget(s) About six widget(s)...

According to the graph of the production possibilities frontier, what is the opportunity cost of the sixth widget? About two gizmo(s) About one-half gizmo(s) About three widget(s) About six widget(s) What best explains the shape of the production possibility frontier in the graph? Producers can move from one point to another on the production possibilities frontier in response to consumers' demands. This economy has the capacity to produce different combinations of widgets and gizmos. The production of widgets and gizmos require the same resources to produce. Some resources used to produce one of the goods are not as productive when they are used to produce the other good.

May 07, 2022
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