Which Statement Best Describes the Opportunity Cost Evident in the Production

question 169

Multiple Choice

Which statement best describes the opportunity cost evident in the production possibilities frontier (PPF) for the accompanying figure?

• A) The law of increasing relative cost applies because the PPF is a straight line.
• B) The law of increasing relative cost applies because the PPF is bowed outward.
• C) The opportunity cost is constant because the PPF is a straight line.
• D) The opportunity cost is constant because the PPF is bowed outward.
• E) The opportunity cost decreases because the line has negative slope.

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Definitions:

Cuboidal Epithelial Cells

Cube-shaped cells found lining various ducts and glands, playing a role in secretion and absorption.

Boyle's Law

A gas law stating that the pressure of a given mass of an ideal gas is inversely proportional to its volume at a constant temperature.

Henry's Law

A gas law that states the amount of dissolved gas in a liquid is proportional to its partial pressure above the liquid, provided the temperature is constant.

Dalton's Law

A principle stating that in a mixture of non-reacting gases, the total pressure exerted is equal to the sum of the partial pressures of the individual gases.