The Shape of the Production Possibilities Frontier in Figure 3-1

question 250

Multiple Choice

The shape of the production possibilities frontier in Figure 3-1 implies that

• A) some resources are better suited for producing wheat than for producing barley.
• B) the opportunity cost of producing more wheat falls as wheat production rises.
• C) the farmer's technology is not subject to the principle of increasing costs.
• D) the financial cost of producing wheat is higher than the financial cost of producing barley.

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Definitions:

Power

The ability to influence or control the behavior of people or the course of events.

Individuals

Single human beings as distinct from a group, class, or family.

Power

The ability or potential to control or sway the actions of others or the path of events.

Managers

Individuals in an organization responsible for planning, directing, and overseeing the operations and activities of a team or department to achieve the set goals.