If a Country Produces Good Y (Measured on the Vertical

question 35

Multiple Choice

If a country produces good Y (measured on the vertical axis) and good X (measured on the horizontal axis) , then the absolute value of the slope of its production possibility frontier is equal to

• A) the opportunity cost of good X.
• B) the price of good X divided by the price of good Y.
• C) the price of good Y divided by the price of good X.
• D) the opportunity cost of good Y.
• E) the cost of capital (assuming that good Y is capital intensive) divided by the cost of labor.

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Definitions:

Mystery Shoppers

Individuals hired to pose as customers and evaluate the quality of service, product, and environment of retail stores or other businesses.

Quality

The degree to which a product, service, or process meets or exceeds customer expectations or standards.

Customer Service

Assistance and support provided by a company to those people who buy or use its products or services.

Availability

The state of being accessible or obtainable; in commerce, refers to how readily a product or service can be found or provided.