-The Above Figure Shows the Production Possibility Frontier for a Country.Suppose

question 73

Multiple Choice

-The above figure shows the production possibility frontier for a country.Suppose the country is producing at point D.What is the opportunity cost of increasing the production of rice to 15 tons?

• A) 9 thousand bottles of wine
• B) 6 thousand bottles of wine
• C) 15 thousand bottles of wine
• D) 12 tons of rice
• E) Nothing, it is a free lunch.

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Definitions:

Accounting Period

A specific duration of time, such as a month, quarter, or year, over which financial activities are recorded and reported.

Cash Received

The amount of money taken in by a business during a particular period, including transactions in cash and equivalents.

Calendar Year

A one-year period that begins on January 1 and ends on December 31, used for most general and financial purposes.

Fiscal Year

A 12-month period that a company or government uses for accounting purposes and preparing financial statements.