If a Production Possibility Frontier Is Drawn Concave to the Origin

question 33

Multiple Choice

If a production possibility frontier is drawn concave to the origin with the quantity of shoes on the X-axis and the quantity of T-shirts on the Y-axis,a movement upward along the PPF reflects:

• A)an increasing opportunity cost of T-shirts.
• B)an increasing opportunity cost of both shoes and T-shirts.
• C)a decreasing opportunity cost of T-shirts.
• D)a decreasing opportunity cost of both shoes and T-shirts.

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Definitions:

Due Process Clause

A clause in the Fifth Amendment of the U.S. Constitution providing that the government cannot deprive an individual of life, liberty, or property without a fair and just hearing.

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The forced transfer of an asset or property without the owner's consent, often due to legal actions like bankruptcy or foreclosure.

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Subleases

Secondary leases whereby the original tenant rents out their rental property to a new tenant, transferring some or all of their tenancy rights to the subtenant.