-According to the Above Table, Which Assumes That Opportunity Costs

question 137

Multiple Choice

-According to the above table, which assumes that opportunity costs of producing goods X and Y are constant, which of the following statements is TRUE?

• A) Chen will be willing to produce only good X and trade units of that good to Holly as long as he receives more than 0.5 units of good Y from her in exchange.
• B) Holly will be willing to produce only good X and trade units of that good to Chen as long as she receives less than 2.5 units of good Y in exchange.
• C) Chen will be willing to produce only good Y and trade units of that good to Holly as long has he receives less than 2 units of good X from her in exchange.
• D) Holly will be willing to produce only good Y and trade units of that good to Chen as long as she receives less than 0.4 unit of good X in exchange.

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Definitions:

Fixed Amount of Time

A specific, unchangeable duration designated for a particular task or activity.

Varying Amounts of Time

Pertains to instances or situations where the duration or period can differ significantly, not fixed or consistent.

Unconditioned Response

A response that occurs naturally in reaction to an unconditioned stimulus, without the need for prior learning.

Unconditioned Stimulus

A stimulus that naturally and automatically triggers a response without any learning needed.