Refer to the Following Table to Answer the Questions That

question 2

Multiple Choice

Refer to the following table to answer the questions that follow.

-Which statement best describes the opportunity cost evident in the production possibilities frontier (PPF) for the accompanying figure?

• A)The law of increasing relative cost applies because the PPF is a straight line.
• B)The law of increasing relative cost applies because the PPF is bowed outward.
• C)The opportunity cost is constant because the PPF is a straight line.
• D)The opportunity cost is constant because the PPF is bowed outward.
• E)The opportunity cost decreases because the line has negative slope.

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