Currently an Economy Is Producing (At a Point on Its

question 35

Multiple Choice

Currently an economy is producing (at a point on its production possibilities frontier) 100 units of good X and the opportunity cost of producing 1X is 3Y.If good X is produced at increasing opportunity costs,then when the economy produces 120 units of good X (on the same PPF) the opportunity cost of producing 1Y (not 1X) could be

• A)1/4X.
• B)1/3X.
• C)1/2X.
• D)1X.
• E)none of the above

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Definitions:

Blacks

A racial or ethnic group referring to people having origins in any of the black racial groups of Africa.

Modern-day Country

A sovereign state with its own government, territories, and population that exists in the present time, recognized as part of the international community.

African Slaves

were individuals from Africa who were forcefully transported and sold into slavery, primarily in the Americas, from the 16th to the 19th centuries.

Smallpox Epidemic

Widespread outbreaks of smallpox, a highly contagious and deadly disease, that have occurred throughout history.