Use the Table Below to Answer the Following Questions

question 62

Multiple Choice

Use the table below to answer the following questions.
Table 2.1.1
The following table gives points on the production possibilities frontier for goods X and Y.
-Refer to Table 2.1.1.The opportunity cost of increasing the production of X from 8 to 12 units is

• A)4 units of X.
• B)4 units of Y.
• C)8 units of Y.
• D)12 units of Y.
• E)16 units of Y.

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Definitions:

Frequency Distribution

A summary of data showing the number (frequency) of observations in each of several non-overlapping categories or bins.

GMAT Scores

Scores obtained from the Graduate Management Admission Test, which assesses certain analytical, writing, quantitative, verbal, and reading skills.

Mean Score

The average score derived from a set of scores.

Grade Point Average

A numerical calculation that represents the average value of the accumulated final grades earned in courses over time, typically on a scale from 0 to 4.0.