If an Economy Has to Sacrifice Only One Unit of Good

question 5

Multiple Choice

If an economy has to sacrifice only one unit of good X for each unit of good Y produced throughout the relevant range, then its production possibility frontier has:

• A)a zero slope.
• B)a constant negative slope.
• C)an increasing negative slope.
• D)a decreasing negative slope.

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Definitions:

Marginal Utility

The additional satisfaction or utility that a consumer derives from consuming one more unit of a good or service.

Marginal Utility

It describes the additional satisfaction or utility that a consumer receives from consuming one more unit of a good or service.

Total Utility

The overall satisfaction or benefit received by consuming a product or service.

Marginal Utility

The additional satisfaction a consumer gains from consuming one more unit of a good or service.