The Economy Can Produce 15X and 15Y,10X and 20Y,5X and 25Y,or

question 147

Multiple Choice

The economy can produce 15X and 15Y,10X and 20Y,5X and 25Y,or 0X and 30Y.It follows that opportunity cost of 1X is ___Y.

• A) 4.0
• B) 5.0
• C) 2.5
• D) 1.0
• E) none of the above

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Definitions:

Locations

Specific places or sites where something exists or occurs, or can be found.

Equilibrium Theory

A theory suggesting that individuals strive to maintain a balance between their input (effort, skill) and output (rewards, recognition) in relationships and groups.

Deviant Member

Describes an individual within a group whose behaviors, beliefs, or attitudes diverge significantly from the group's norms or standards.

Cohesive

Describes a group, organization, or other collection of individuals that is united or sticking together closely, often sharing common goals or attitudes.