On the Production Possibilities Frontier, the Opportunity Cost of Producing

question 137

Multiple Choice

On the production possibilities frontier, the opportunity cost of producing one more unit of a commodity per period is measured by the _____

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

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Definitions:

Human Resources

The department within an organization that focuses on recruiting, managing, and directing people who work in it. They handle issues related to employment, such as compliance with labor laws and employment standards, administration of employee benefits, and some aspects of recruitment and dismissal.

Sales Meetings

Gatherings or conferences held with the goal of discussing sales performance, strategies, and objectives.

Disruptive Innovation

An innovation that significantly alters the way that businesses operate, creating new markets and displacing established market leading firms and products.