The Fact of Increasing Opportunity Costs Means That a Production

question 207

Multiple Choice

The fact of increasing opportunity costs means that a production possibilities frontier will

• A) be a straight line.
• B) reach a maximum and then gradually decrease.
• C) bow outward.
• D) shift outward over time.

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Definitions:

Extreme Scores

Describes unusually high or low measurements in data, often considered outliers in statistical analyses.

Annual Incomes

The total amount of money earned by an individual or entity in one year from all sources.

Mode

The most frequently occurring score(s) in a distribution.

Highest And Lowest Scores

The extreme values in a set of numerical data, representing the maximum and minimum measures observed.