A Straight-Line Production Possibilities Boundary Differs from a Concave Boundary

question 79

Multiple Choice

A straight-line production possibilities boundary differs from a concave boundary in which of the following ways?

• A)The straight-line boundary illustrates constant opportunity costs,whereas the concave boundary illustrates increasing opportunity costs.
• B)The concave boundary illustrates constant opportunity costs,whereas the straight-line boundary illustrates decreasing opportunity costs.
• C)The straight-line boundary does not show scarcity,whereas the concave boundary does.
• D)The straight-line boundary shows opportunity cost,whereas the concave boundary does not.
• E)A straight-line boundary is associated with a command economy,whereas a concave boundary is associated with a free-market economy.

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Definitions:

Retailer

An entity that sells goods or commodities directly to consumers.

Wholesalers

Businesses that buy goods in large quantities from producers to sell them in smaller quantities to retailers or other businesses.

Perpetual Inventory

An inventory management system where inventory levels are updated in real-time following each purchase or sale.

Merchandising Transactions

Transactions that involve the buying and selling of merchandise, crucial for businesses in the retail sector to generate revenue.