ECON 2105 Exam 1 (ECON 2105 Exam 1 Study Guide)

1. Alexander has a straight-line, or linear, production possibility frontier when he produces soybeans and corn. If he uses all of his resources to grow soybeans, he can produce 200 bushels of soybeans; if he uses all of his resources for corn production, he can produce 400 bushels of corn. Which of the following combinations of corn and soybeans are not possible for him to produce? A) 200 bushels of soybeans and zero bushels of corn X B) 600 bushels of corn and 200 bushels of soybeans C) 400 bu...

1. Alexander has a straight-line, or linear, production possibility frontier when he produces soybeans and corn. If he uses all of his resources to grow soybeans, he can produce 200 bushels of soybeans; if he uses all of his resources for corn production, he can produce 400 bushels of corn. Which of the following combinations of corn and soybeans are not possible for him to produce? A) 200 bushels of soybeans and zero bushels of corn X B) 600 bushels of corn and 200 bushels of soybeans C) 400 bu...

1. Alexander has a straight-line, or linear, production possibility frontier when he produces soybeans and corn. If he uses all of his resources to grow soybeans, he can produce 200 bushels of soybeans; if he uses all of his resources for corn production, he can produce 400 bushels of corn. Which of the following combinations of corn and soybeans are not possible for him to produce? A) 200 bushels of soybeans and zero bushels of corn X B) 600 bushels of corn and 200 bushels of soybeans C) 400...