Exhibit 2-2 Production Possibilities Curve in Exhibit 2-2, the Opportunity

question 184

Multiple Choice

Exhibit 2-2 Production possibilities curve In Exhibit 2-2, the opportunity cost of coffee when moving from A to B is:

• A)2 million bushels of corn.
• B)6 million bushels of corn.
• C)8 million bushels of corn.
• D)14 million bushels of corn.
• E)it is not possible to determine.

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Definitions:

Contingency Plan

A predefined strategy or set of procedures to be implemented in response to possible future events or circumstances.

Courses of Action

Various strategies or directions one might take to achieve a goal or solve a problem.

Problem

A situation, question, or issue that presents difficulty, uncertainty, or challenge, requiring resolution or solution.

Opportunity

A chance or set of circumstances that makes it possible to do something.