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Economics

An advance in technology makes it possible to produce 50% more of all goods. With these expanded possibilities, people increase the number of vacations and their consumption of food by 50%. As a result of these two changes, the opportunity cost of a unit of food_____ and the opportunity cost of a vacation_________.

a. decreases, decreases

b. increases, decreases

c. decreases, increases

d. does not change, does not change

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91798349

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