If Additional Units of Any Good Can Be Produced at a Constant

question 114

Multiple Choice

If additional units of any good can be produced at a constant opportunity cost, the production possibilities frontier is

• A)positively sloped and linear.
• B)bowed inward and negatively sloped.
• C)linear and negatively sloped.
• D)bowed outward and negatively sloped.
• E)horizontal.

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Definitions:

Direct Labor-Hours

The total hours worked by employees who are directly involved in the production of goods or services.

Direct Labor

The labor costs of employees who are directly involved in the production of goods, an element of production costs.

Master Budget

A comprehensive financial plan that includes all of a company's budgets and financial plans.

Hourly Cost

The expense incurred for each hour of work performed, often used to calculate labor costs or pricing for services.