Business, 14.02.2020 21:39, zackarygonzalez1028

If an economy can produce various combinations of food and shelter along a production possibilities curve (PPC), then if we increase the production of shelter along the PPC, which of the following is true?
1. We also increase the production of food.
2. We must decrease the production of food. This foregone food production represents the opportunity cost of the increase in shelter.
3. We cannot change the production of food.
4. The concept of opportunity cost does not apply along PPC.

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If an economy can produce various combinations of food and shelter along a production possibilities...