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.

---

Definitions:

Drive Reduction

A theory in psychology that explains behavior as driven by the need to reduce internal tensions caused by unmet biological needs.

Incentives Necessary

The concept that motivation or behavior is influenced by a reward or incentive.

Ongoing Behavior

Behavior that is currently in process, continuing over a period of time.

Predictive Cues

Indicators or signals that suggest the likelihood of a future event or outcome.