The Opportunity Cost of Producing a Good Rises Only Slightly

question 329

Multiple Choice

The opportunity cost of producing a good rises only slightly as the quantity produced increases.This good has

• A) an inelastic demand.
• B) an elastic demand.
• C) an elastic supply.
• D) an inelastic supply.
• E) a perfectly elastic supply.

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Definitions:

Reproductive Capacity

The ability of an organism to produce offspring, often considered in terms of quantity and viability.

Sexual Hormones

Chemical substances produced by the body that regulate sexual functions, development, and behaviors, including estrogen, testosterone, and progesterone.

Adolescence

The transitional stage of development between childhood and adulthood, characterized by physical, psychological, and social changes.

Psychological Maturation

The process of psychological and emotional growth that an individual undergoes, leading to a more stable, mature personality.