The Opportunity Cost of Producing More of One Good on a Production

question 76

Multiple Choice

The opportunity cost of producing more of one good on a production possibilities frontier is

• A)a dollar amount.
• B)a ratio of prices.
• C)equal to the area inside the production possibilities frontier.
• D)a ratio of quantities.
• E)a theoretical concept which cannot be measured.

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Definitions:

Obedience

Following orders from an authority figure.

Forgiving

The act of pardoning someone for their mistakes or wrongdoing without harboring resentment.

Religious People

Religious people are individuals who follow or practice a particular religion, often adhering to its beliefs, rituals, and moral guidance.

Highly Educated People

Individuals who have attained advanced levels of education, usually holding at least a college or university degree.