On a Production Possibilities Frontier, How Is the Opportunity Cost

question 67

Multiple Choice

On a production possibilities frontier, how is the opportunity cost of one more unit of a commodity per time period measured?  

• A) by the amount of the other commodity that must be sacrificed 
• B) by the amount of unemployed resources that must be used 
• C) by the amount of satisfaction it gives consumers 
• D) by the amount of tax paid to government for production, sale, and use of the commodity

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Definitions:

Endodermis

The innermost layer of cells in the root cortex, serving as a selective barrier that regulates the passage of substances from the soil into the vascular cylinder.

Pericycle

A layer of cells just inside the endodermis in plant roots, which can give rise to lateral roots, contributing to the plant's growth and development.

Illuviation

The deposition of material leached from the upper layers of soil into the lower layers.

Dissolved Materials

Substances that are mixed uniformly at the molecular level in a solvent, forming a solution.