Use the Figure Below to Answer the Following Questions

question 8

Multiple Choice

Use the figure below to answer the following questions.

Figure 2.1.2
-Consider the production possibilities frontier in Figure 2.1.2,and assume that everything that is produced is also consumed.Which of the following statements is false?

• A)Resources are not equally useful in all activities.
• B)Points inside the frontier indicate unused or misallocated resources.
• C)Starting at point A, an increase in the production of Y will shift the frontier outward.
• D)The opportunity cost of producing Y increases as production of Y increases.
• E)The opportunity cost of producing X increases as production of X increases.

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Definitions:

Tenancy-At-Will Lease

A lease that may be terminated by the parties at any time.

Tenancy-At-Sufferance Lease

A lease that is created when a tenant who was lawfully in possession of a leased property remains in possession of that property unlawfully after the lease ends because the person with the power to evict him failed to do so.

Landlord-Tenant Relationship

A legal arrangement between the owner of a property (landlord) and a person who has been granted temporary possession (tenant).

Integral Part

An essential component or element of something that is necessary for its completeness or functioning.