Consider the Following Production Possibilities Table for Drill Presses and Corn.The

question 133

Multiple Choice

Consider the following production possibilities table for drill presses and corn.The table shows the maximum combination of drills and corn that can be produced when all resources are fully employed.
Drill Presses 10 20 30 40 50
Corn 150 140 120 90 50
Based on the information in the table,

• A)the opportunity cost of producing 40 drill presses instead of 30 drills is 30 corn.
• B)there is a constant trade-off between corn and drill presses.
• C)the production possibilities curve for drill presses and corn will be a straight line.
• D)the opportunity cost of producing 30 drill presses instead of 20 drills is 120 corn.

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Definitions:

Resource

An economic or productive factor required to accomplish an activity, often categorized into natural resources, human resources, and capital resources.

Own Sake

Pertains to actions or activities pursued for their intrinsic value or personal fulfillment, without any external reward.

Productive Resource

An economic term for the inputs used in the production of goods or services in the attempt to make an economic profit.