If There Is Always a 4-For-1 Tradeoff Between Producing Good

question 101

Multiple Choice

If there is always a 4-for-1 tradeoff between producing good X and good Y,it follows that the opportunity cost of X (in terms of Y) ____________________ and the PPF for these two goods is ______________________.

• A) decreases at low levels of X; a straight line
• B) rises at high levels of Y; bowed-outward
• C) decreases at high levels of X; bowed-outward
• D) is always the same; a straight line

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Definitions:

Area Code

A segment of a telephone number that designates a particular geographical area or jurisdiction for routing calls.

Cannot Be Determined

This indicates a situation or conclusion that cannot be precisely ascertained or established based on the given information or data.

Nominal Scale

A classification of data into distinct categories that cannot be ranked or ordered and are only differentiated by name.

Pie Graph

A circular chart divided into sectors, each representing a proportion of the total.