To Find the Opportunity Cost of Producing One More Unit

question 173

Multiple Choice

To find the opportunity cost of producing one more unit of any product while on the production possibilities frontier requires

• A) setting the amounts of the two products equal to each other.
• B) setting the change in one product equal to the change in the other product.
• C) dividing the amount of the product forgone by the amount of the product gained.
• D) subtracting the change in the product whose production increased from the change in the product whose production decreased.
• E) None of these describe how to find opportunity cost.

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Definitions:

Electronically Linked

Connected or networked through electronic means, enabling communication or data transfer across devices or systems.

Differential Stress

A condition with unequal stresses from different directions.

Compression

The type of differential stress that occurs when forces push in on a rock.

Shear

The type of differential stress that occurs when stresses on the edge of a mass are applied in opposite directions.