Which Statement Best Describes the Opportunity Cost Evident in the Production

question 169

Multiple Choice

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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Definitions:

Personal Space

The physical distance individuals prefer to maintain between themselves and others to feel comfortable and secure.

Non-intimate Interchanges

Exchanges or interactions that lack personal or private nature, often formal or professional.

High Power Distance

A cultural dimension indicating societies or organizations where there is a large gap between those in power and the general population, leading to a greater level of inequality and hierarchical structure.

Sexist Language

language that discriminates or shows bias against a particular sex, typically against women.