Suppose That A Country Uses Labor And Capital To Produce Cars And Food. Assume That The Y-Axis Represents Food Production And The X-Axis Represents The Cars Production. Which Of The Following Statements Is True? A. If The Labor Constraints Curve Is Steeper Than The Capital Constraints Curve, Then Opportunity Cost Of Y Of Labor Constraints Exceeds That Of The
Suppose that a country uses labor and capital to produce cars and food. Assume that the Y-axis represents food production and the X-axis represents the cars production. Which of the following statements is True?
a. If the labor constraints curve is steeper than the capital constraints curve, then opportunity cost of Y of labor constraints exceeds that of the capital constraints.
b. If the labor constraints curve is steeper than the capital constraints curve, then opportunity cost of X of labor constraints exceeds that of the capital constraints.
c. Ifthelaborconstraintscurveisflatterthanthecapitalconstraintscurve, then opportunity cost of X of labor constraints exceeds that of the capital constraints.
d. None of the above.
