Question

Write true or false with reason.
Q1. A free medicine given to the patients in hospitals is not a scarce commodity.
Q2. Lack of scarcity implies lack of economic problem.
Q3. If there were no choices in resource allocation microeconomics would not have
existed
Q4. Problem of resource allocation is automatically solved in a free economy.
Q5. Choice between production for the poor and production for the rich refers to the
problem of what to produce
Q6. An economy produces goods and services in a manner such that it always operates on
the PPC
Q7 MOC falls as resources are shifted from use-1 to use-2
Q8. Opportunity cost is an avoidable cost.
09. When output of good 1 increases from 100 to 110units, and output of good 2
decreases from 400 to 350 units, MOC 50 units

Answer 1

Answer:

1.True

2. False

3. False

4. False

5. True

6. True

7. True

8. True

9. Not sure....

Answer 2

Answer:

these questions are from which book?