The Idea of Increasing Opportunity Cost Is Reflected in the

question 213

Multiple Choice

The idea of increasing opportunity cost is reflected in the

• A) bowed out shape of the production possibilities frontier.
• B) bowed in shape of the production possibilities frontier.
• C) linear shape of the production possibilities frontier.
• D) positive slope of the production possibilities frontier.
• E) fact that the PPF shows there are unattainable production points.

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Definitions:

Festinger

Refers to Leon Festinger, a psychologist best known for his cognitive dissonance theory, which explores the discomfort felt by individuals when their beliefs or behaviors are inconsistent.

Cognitive Consistency

A psychological theory suggesting that individuals are motivated to maintain consistency among their cognitions, leading to changes in attitudes, beliefs, or behaviors when inconsistencies occur.

Festinger and Carlsmith's Experiment

A psychological study on cognitive dissonance which demonstrated how attitude change can result from forced compliance behavior.

Enjoyable

Experiences or activities that provide pleasure, satisfaction, or joy, making them desirable to engage in.