Business, 09.07.2021 18:30 beausisugpula

Which of the following is a major difference between a budget constraint and production possibilities frontier? a. A production possibilities frontier conveys the relative prices of the two goods, whereas a budget constraint accounts for diminishing returns.
b. A production possibilities frontier is usually straight, whereas a budget constraint is typically curved.
c. A budget constraint typically has a constant slope, whereas the slope of a production possibilities frontier is usually different at various points.
d. There is no difference. They convey the same information.

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Which of the following is a major difference between a budget constraint and production possibilitie...

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