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

question 40

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

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Definitions:

CR

Customer Relationship; the management of interactions and relationships between a business and its customers.

Digital Detox

A period of time during which an individual refrains from using digital devices such as smartphones, computers, and social media, to reduce stress and focus on social interactions in the physical world.

Digital Technology Desert

Areas or communities with limited access to digital technologies, such as broadband internet or modern computing devices.

Future Detachment

The concept of disengaging from future outcomes or expectations, often related to mindfulness or reducing anxiety about what has yet to happen.