Refer to the Diagram Below

question 240

Multiple Choice

Refer to the diagram below.Points A, B, C, D, and E show:

• A)that the opportunity cost of bicycles increases, while that of computers is constant.
• B)combinations of bicycles and computers which society can produce by using its resources efficiently.
• C)that the opportunity cost of computers increases, while that of bicycles is constant.
• D)that society's demand for computers is greater than its demand for bicycles.

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Definitions:

Equilibrium Market Price

The cost level where the amount of products offered matches the amount of products sought after in a marketplace.

Downward Pressure

A force or condition that causes prices or values to decrease or decline in a market.

Supply Curve

A graphical representation of the relationship between the price of a good and the quantity of the good that producers are willing to sell.

Battery Packs

Devices composed of multiple batteries or cells configured together to provide the required voltage, current, and energy density for electronic devices.