If Opportunity Costs Are Increasing,then the Production Possibilities Frontier Is

question 71

Multiple Choice

If opportunity costs are increasing,then the production possibilities frontier is

• A)bowed outward with a positive slope.
• B)a positively sloped straight line.
• C)a negatively sloped straight line.
• D)bowed outward with a negative slope.
• E)a vertical line.

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Definitions:

Supply Price

The minimum price at which a producer is willing to sell a given quantity of a good or service.

Doughnuts

A type of fried dough confection or dessert food, usually sweet, with a hole in the middle or filled with various sweet fillings.

Binding Minimum Wage

A legally established minimum wage that is high enough to affect the labor market by setting a floor on wages that employers can pay their employees.

Unemployment

The state of being jobless and actively looking for work but unable to find employment.