If There Is Increasing Opportunity Cost,then When Moving Downward on a Production

question 276

Multiple Choice

If there is increasing opportunity cost,then when moving downward on a production possibilities frontier,the opportunity cost of the good on the horizontal axis ________ as more of the good is produced.

• A) increases and the PPF gets steeper
• B) increases and the PPF gets flatter
• C) decreases and the PPF gets steeper
• D) decreases and the PPF gets flatter
• E) does not change and the PPF gets steeper

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Definitions:

Principals

In a legal context, individuals or entities who authorize agents to act on their behalf in contractual or negotiation situations.

Moneys

Forms of currency, including cash and other mediums of exchange, used as a means to purchase goods and services or settle debts.

Apparent Authority

The appearance or assumption of authority based on the actions of the principal, leading others to believe that an agent has the authority to act.

Implied Authority

The power assumed to be held by an agent or employee, based on their role or position, allowing them to perform acts necessary to fulfill their duties.