Using All Its Resources, an Economy Can Produce Either 200

question 37

Multiple Choice

Using all its resources, an economy can produce either 200 computers or 800 chairs. If the economy produces 200 computers, its opportunity cost of producing these 200 computers is _____.

• A) 200 chairs
• B) zero
• C) 800 chairs
• D) 600 chairs

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Definitions:

Fovea

A small depression in the retina where visual acuity is highest, and the concentration of cones is maximized for sharp central vision.

Energy

The capacity to do work, or the power derived from the utilization of physical or chemical resources to provide light, heat, or to work machines.

Conversion

The act or process of changing or causing something to change from one form to another, in various contexts such as religion, energy, or digital data.

Nervous System

The network of nerve cells and fibers that transmits nerve impulses between parts of the body.