While Moving on the Production Possibilities Frontier,if the Opportunity Cost

question 27

Multiple Choice

While moving on the production possibilities frontier,if the opportunity cost of producing one good is 1/2,the opportunity cost of producing the other good (in the same range) is

• A)1/4.
• B)2.
• C)4.
• D)1/2.
• E)An amount that cannot be calculated without more information.

---

Definitions:

Miscellaneous Expenses

Costs that are not consistently categorized among the standard costs for operation of a business, often minor in scope and irregular in occurrence.

Rent Expense

Rent Expense is the cost incurred by a company for using a property or equipment for business operations, which is recognized on the income statement.

Continuous Budgets

Budgets that are continuously updated by adding a new budget period as the last one is completed, thus always having a full period's financial plan.

Communicating Objectives

The process of clearly and effectively sharing goals and targets with relevant stakeholders or team members.