If a Production Possibility Frontier Is a Straight Line, It

question 59

Multiple Choice

If a production possibility frontier is a straight line, it tells us that the opportunity cost of producing one more unit of good X:

• A)is an increasing amount of good Y.
• B)is a decreasing amount of good Y.
• C)is equal to the inverse of the amount of good Y.
• D)is a constant amount of good Y.

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Definitions:

Pricing

The process of determining the monetary value at which goods and services will be sold.

Psychographic Measures

Tools or methods used to assess and analyze the psychological attributes of individuals, such as interests, values, and lifestyles.

Demographic Data

Information related to the characteristics of a population, such as age, gender, income, and education, used for statistical analysis.

Lifestyles

The collective habits, attitudes, tastes, moral standards, economic level, and social relations that characterize an individual or community.