While Producing on the Production Possibilities Frontier, If Additional Units

question 197

Multiple Choice

While producing on the production possibilities frontier, if additional units of a good could be produced at a constant opportunity cost, the production possibilities frontier would be

• A) bowed outward.
• B) bowed inward.
• C) positively sloped.
• D) a straight line.

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Definitions:

Demand Curve

A graph showing the relationship between the price of a good and the quantity demanded, typically downward sloping, indicating an inverse relationship between price and quantity demanded.

Output Axis

In graphing, particularly in economics, this refers to the axis on which the quantity produced or supplied is measured.

Economic Power

The capacity of an entity, such as a company or country, to influence economic outcomes within its environment for its own benefit.

Political Power

The ability or capacity of a person or group to influence or control the actions and policies of a government or organization.