Which of the following statements is true about the graph of a production possibilities curve? a. the cost of producing watermelons and shoes is roughly even on the production possibilities frontier. b. it costs 2 million more tons of watermelons to produce 14 million tons of shoes. c. the cost of moving from producing no watermelons to producing 8 million tons of watermelons is 1 million pairs of shoes. d. one million tons of watermelons must be sacrificed to produce 8 million pairs of shoes.

The correct answer is:

C. The cost of moving from producing no watermelons to producing 8 million tons of watermelons is 1 million pairs of shoes.

The production possibility curve, also called or the production possibility frontier, shows the various combinations of the two goods which the economy can produce with a given amount of resources.

this is true

the completion of the erie canal spurred the first great westward movement of american settlers, gave access to the rich land and resources west of the appalachians and made new york the preeminent commercial city in the united states.