As an Economy Increasingly Specializes in Producing One Good,the Opportunity

question 87

Multiple Choice

As an economy increasingly specializes in producing one good,the opportunity cost of that good increases.The opportunity cost increases because

• A) resources are not equally productive in all activities.
• B) what must be paid to resources increases.
• C) human wants are virtually unlimited.
• D) not all goods are equally valuable.
• E) as more of a good is produced, the profit from its production must rise.

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Definitions:

VLOOKUP

A function in Excel and other spreadsheet software that searches for a value in the first column of a range and returns a value in the same row from a specified column.

COUNTIF

A function in spreadsheet software that counts the number of cells within a range that meet a single criterion.

Stacked Bar Chart

A graphical representation of data where different categories are stacked on top of each other to show the total and the individual proportions of each category.

Stacked Column Chart

A graphical representation that displays multiple categories of data stacked on top of each other in vertical columns, useful for comparing totals and relationships within data.