The Negative Slope of the Production Possibilities Curve Is a Graphical

question 294

Multiple Choice

The negative slope of the production possibilities curve is a graphical way of indicating that

• A) any economy "can have its cake and eat it too."
• B) to produce more of one product, we must do with less of another.
• C) the principle of increasing opportunity costs applies to only parts of the economy.
• D) consumers buy more when prices are low than when prices are high.