-The Above Table Shows Production Combinations on a Country's Production

question 325

Multiple Choice

-The above table shows production combinations on a country's production possibilities frontier. The opportunity cost of increasing the production of Y from 16 to 28 units is ________ units of good X per unit of good Y.

• A) 12
• B) 6
• C) 3
• D) There is no opportunity cost when moving from one point to another along a production possibilities frontier so none of the above answers is correct.

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Definitions:

Impulsive Decisions

Impulsive decisions are made quickly and without thorough consideration of the consequences, often based on immediate emotions or desires rather than rational thought.

MBTI Profile

A categorization of personality types based on the Myers-Briggs Type Indicator, which is a tool used to identify individuals' psychological preferences.

Psychological Preferences

The individual tendencies towards certain ways of thinking, feeling, and behaving.

Preferences

Individuals' choices or inclinations regarding people, objects, or outcomes, often influenced by their values, beliefs, and past experiences.