A Lawyer Can Argue a Case in Court for One

question 215

Multiple Choice

A lawyer can argue a case in court for one hour and make $300. She could alternatively use that hour of time to type a legal brief in her office. What is the opportunity cost of her typing the legal brief?

• A) nothing, since she would never type a legal brief
• B) nothing, since she would always hire an administrative assistant to type for her
• C) $300, since that is the amount she could have made by arguing a case in court
• D) $13.50, the average hourly wage for a typist

Interpret the shape of the PPF and what it indicates about opportunity costs (constant, increasing, or decreasing).

Relate the concepts of investment, savings, and economic growth to shifts in the PPF.

Explain how the PPF illustrates the trade-offs between producing different combinations of goods.

Understand how efficiency and inefficiency are depicted by the PPF.

---

Definitions:

Line Orientation

The direction in which a line or linear object points or aligns within a visual field or specified space.

Stimulus

is any event or situation that evokes a response from an organism in the environment.

Perceptual Processing

The act of receiving, organizing, and interpreting sensory information from the environment.

Uniform Parts

Elements or components that are identical in form or function within a larger system or group.