Table 2.1.1 The Following Table Gives Points on the Production Possibilities Frontier

question 123

Multiple Choice

Table 2.1.1
The following table gives points on the production possibilities frontier for goods X and Y.

-From the data in Table 2.1.1 we can infer that

• A)the economy illustrated has a comparative advantage in the production of Y.
• B)the economy illustrated has a comparative advantage in the production of X.
• C)the opportunity cost of producing an additional unit of Y increases as the production of Y increases.
• D)the opportunity cost of producing an additional unit of Y decreases as the production of Y increases.
• E)none of the above.

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Definitions:

Cooperate

The act of working together toward a common goal or interest.

Intergroup Conflict

A psychological phenomenon where conflict occurs between groups due to competing interests, beliefs, or resources.

Productive Farmland

Land that yields a significant amount of agricultural crops or livestock, making it valuable for food production.

Commons Dilemma

A situation in which individuals' short-term selfish interests lead to the depletion or destruction of a shared limited resource, despite knowing that it is not in anyone's long-term interest for this to happen.