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There is much more specialization in small communities than in large cities. O True False

The production possibility curve is upward sloping. True False

Opportunity costs that can be recovered are called costs.

Costs that change when output changes are called costs.

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Answer #1

1. True. There is much more specialisation in small communities than in large cities. This is because in large cities people have varied options to switch while in smaller communities they perform those specific tasks which have been performed since a long time in their communities.

2. False. The production possibility curve is downward sloping from left to right. It is because on a situation of fuller and efficient utilisation of the given resources, production of both goods cannot be increased.

3. Opportunity costs that can be recovered are called controllable costs.

4. Costs that change when output changes are called variable costs.

NOTE: I HOPE YOU WILL BE SATISFIED WITH MY ANSWER PLEASE DO PROVIDE RATING. THANK YOU AND HAVE A NICE DAY. :))

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