Table 13 Shows the Hypothetical Trade-Off Between Different Combinations of Brushes

question 28

Multiple Choice

Table 1.3 shows the hypothetical trade-off between different combinations of brushes and combs that might be produced in a year with the limited capacity for Country X,ceteris paribus. Table 1.3
Production Possibilities for Brushes and Combs
$$\begin{array} { | l | c | c | r | r | } \hline \text { Combination } & \begin{array} { c } \text { Number of } \\\text { combs }\end{array} & \begin{array} { c } \text { Opportunity } \\\text { Cost(Foregone } \\\text { brushes) }\end{array} & \begin{array} { c } \text { Number of } \\\text { brushes }\end{array} & \begin{array} { c } \text { Opportunity Cost } \\\text { (Foregone combs) }\end{array} \\\hline \mathrm { J } & 4 & & 0& \text { NA } \\\hline \mathrm { K } & 3 & & 10 & \\\hline \mathrm { L } & 2 & & 17 & \\\hline \mathrm { M }& 1 & & 21 & \\\hline \mathrm { N } & 0 & \text { NA } & 23 & \\\hline\end{array}$$ On the basis of Table 1.3,in the production range of 1 to 2 combs the opportunity cost of producing 1 more comb in terms of brushes is

• A)4.
• B)1/2.
• C)2/17.
• D)1/7.

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Definitions:

Prices Double

A situation where the price level of goods or services increases by 100 percent, leading to potential adjustments in consumer behavior and market dynamics.

Income Triples

A scenario in which an individual's or household's income increases to three times its original amount.

Slope Of Budget Line

The rate at which a consumer can trade one good for another while maintaining the same level of utility.

Price Of Good 1

The amount of money required to purchase a specific good or service, referred to as "Good 1."