If Production Involves Increasing Opportunity Cost, Then on the Production

question 195

Multiple Choice

If production involves increasing opportunity cost, then on the production possibilities frontier, moving to a point closer to the horizontal axis will increase the opportunity cost of

• A)the good that is shown on the horizontal axis.
• B)the good that is shown on the vertical axis.
• C)both of the goods shown on the axes.
• D)neither of the goods shown on the axes.

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Definitions:

Common Denominator

The shared multiple of the denominators of two or more fractions, allowing them to be compared or combined.

Sum

The result of adding two or more numbers or quantities together.

Product

The result of multiplying two or more quantities together.

Gigabytes

A unit of digital information storage equal to 1,024 megabytes or roughly one billion bytes.