The transformation curve slopes indicate that
...The transformation curve slopes indicate that
Opportunity cost of producing one commodity for another
Opportunity cost of producing two commodities at a time
Sales of the plants to other investors
Decrease in the cost of production
Correct answer is A
The transformation curve shows the amount of commodity X that the economy has to give up to obtain an additional unit of commodity Y (and vice versa). It simply shows the opportunity cost of producing one thing against another (the forgone alternative to get something else).
A distinguishing characteristic of cooperative societies is that voting power depends on the ...
Public ownership of productive factors is a feature of_______? ...
In a centrally planned economy, what to produce is ...
Which of the following assets of the commercial bank does not yield revenue? ...
For the improvement of the welfare of a people, a high production level is not enough because ...
A scale of preference is a list ...
The current industrial development strategy in Nigeria is aimed at encouraging ...