While Moving on the Production Possibilities Frontier, If the Opportunity

question 53

Multiple Choice

While moving on the production possibilities frontier, if the opportunity cost of producing one good is 1/2, the opportunity cost of producing the other good (in the same range) is

• A) 1/2.
• B) 2.
• C) 4.
• D) 1/4.
• E) An amount that cannot be calculated without more information.

Be aware of biases and issues that can occur during observational research.

Understand how psychological research addresses human behavior from different perspectives.

Understand the historical and sociopolitical contexts of racial and ethnic relations in Canada.

Recognize and describe the sociological concepts of scapegoating, ethnic groups, and racialization.

---

Definitions:

Excise Taxes

Taxes levied on the sale of specific goods and services, often included in the price of products like gasoline, alcohol, and tobacco.

Cigarettes

Small cylinders of finely cut tobacco leaves rolled in thin paper for smoking.

Tobacco Farming

The agricultural process of growing and harvesting tobacco leaves, which are then processed for use in products like cigarettes.

Perfectly Inelastic

A situation where the quantity demanded or supplied does not change in response to a change in price.