As We Increase the Production of X, We Find We

question 100

Multiple Choice

As we increase the production of X, we find we must give up larger and larger amounts of Y per unit of X. Select the best statement.

• A)This illustrates increasing opportunity cost.
• B)As a result, we should not specialize in the production of X.
• C)The production possibilities frontier for X and Y is a straight line.
• D)Good Y will be more highly regarded by consumers than good X.
• E)We must be producing inside the production possibilities frontier.

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