In a Production Possibilities Frontier Graph,the Cost of Producing More

question 131

Multiple Choice

In a production possibilities frontier graph,the cost of producing more units of a good is measured by the

• A) dollar value of the resources used to produce the good.
• B) amount of the other good or service that must be forgone.
• C) dollar value of the additional output.
• D) area in the arc between the PPF and a straight line drawn between the starting point and the ending point.
• E) None of the above answers is correct.

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Definitions:

Discretion

The freedom to decide what should be done in a particular situation, often within the framework of one’s role or authority.

Referent Power

A form of influence based on the leader’s ability to cultivate respect, admiration, and loyalty among followers.

Respect

A feeling of deep admiration for someone or something elicited by their abilities, qualities, or achievements.

Coercive Power

is the ability to influence others' behavior through threats, punishment, or other negative sanctions, relying on fear to gain compliance.