Use the Following to Answer Questions Production P Ossibilities S

question 141

Multiple Choice

Use the following to answer questions Production P ossibilities S chedule 2

$\begin{array}{cccccc}&V & W & X & Y & Z\\\hline\text { Capital goods per period } & 0 & 1 & 2 & 3 & 4 \\\text { Consumer goods per period } & 20 & 18 & 14 & 8 & 0\end{array}$
-(Exhibit: Production Possibilities Schedule 2) If the economy is producing at alternative X, the opportunity cost to it of producing at Y instead of X is _______ units of consumer goods per period.

• A)0
• B)6
• C)8
• D)14

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Definitions:

Particular Situation

A specific set of circumstances or state of affairs at a given time.

Behavior

The actions or reactions of an individual or group in response to external or internal stimuli.

Transferring of Information

The process of conveying data, knowledge, or details from one person, place, or system to another.

Agreed Upon Meaning

A mutual understanding or interpretation of a term or concept established through communication or negotiation.