If a Production Possibility Frontier Is Drawn Concave to the Origin

question 15

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 downward along the PPF reflects:

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

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Definitions:

Data Hierarchy

A systematic organization of data often in a hierarchical form ranging from bits and bytes up to databases.

Byte

A unit of digital information that most commonly consists of eight bits, representing a single character of data in most computer systems.

Database

An organized collection of structured information, or data, typically stored electronically in a computer system.

Entity

In general context, an entity refers to any distinct, existent thing or unit, including individuals, organizations, or other identifiable things in a particular domain of discussion.