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JAMB Economics 1993 Question 3

Question 3

Basic Concepts

Use the production possibility diagram. How many units of good X is produced for 8 units of commodity Y?

Diagram for this question
  1. A.80
  2. B.40
  3. C.20
  4. D.0
Show the answer and explanation

Answer: D (0)

Explanation

The curve meets the Y-axis at 8 units, so producing 8 units of Y leaves no resources for X: X = 0.