A Straight- Line Production Possibilities Boundary Differs from a Concave

question 36

Multiple Choice

A straight- line production possibilities boundary differs from a concave boundary in which of the following ways?

• A)The concave boundary illustrates constant opportunity costs, whereas the straight- line boundary illustrates decreasing opportunity costs.
• B)The straight- line boundary illustrates constant opportunity costs, whereas the concave boundary illustrates increasing opportunity costs.
• C)A straight- line boundary is associated with a command economy, whereas a concave boundary is associated with a free- market economy.
• D)The straight- line boundary does not show scarcity, whereas the concave boundary does.
• E)The straight- line boundary shows opportunity cost, whereas the concave boundary does not.

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Definitions:

TV Commercials

Short visual advertisements broadcast on television to promote products, services, or ideas to a wide audience.

Opportunity Cost

The price paid for not selecting the next most favorable choice during decision-making.

TV Commercials

Short advertisements broadcast on television, typically showcasing products, services, or brands to a wide audience.

Specialize

To concentrate on a specific area of expertise, activity, or field of study to gain a higher efficiency or proficiency.