Exhibit 2-10  Production Possibilities Curve Data Suppose an Economy Is

question 101

Multiple Choice

Exhibit 2-10  Production possibilities curve data Suppose an economy is faced with the production possibilities table shown in Exhibit 2-10. As additional units of capital goods are produced, the opportunity cost in terms of sacrificed units of consumption goods ____ because of ____.

• A) decreases; greater efficiency in production
• B) increases; decreasing opportunity cost
• C) increases; the law of increasing costs
• D) increases; greater efficiency in production
• E) decreases; the law of increasing costs

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Definitions:

Product Managers

Professionals responsible for developing strategies, defining features, and overseeing the development and marketing of a product throughout its lifecycle.

Discounts

A reduction from the usual cost of something, often used to encourage purchases.

Business Unit Level

Refers to the specific segment or division within a larger organization that operates with its own strategy, resources, and objectives.

Sales Training

The effort put forth by an employer to provide the opportunity for the salesperson to acquire job-related attitudes, concepts, rules, and skills that result in improved performance in the selling environment.