If the Production Possibilities Frontier Is ________, Then Opportunity Costs

question 201

Multiple Choice

If the production possibilities frontier is ________, then opportunity costs are constant as more of one good is produced.

• A)bowed out
• B)bowed in
• C)non-linear
• D)linear

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Definitions:

Discrete Quantitative Variables

Variables that represent countable quantities and can take on a finite number of distinct values.

Elementary Units

The simplest, indivisible entities which a data set or a statistical analysis is concerned with.

Finite Result

An outcome or solution that is fixed and definitive, with limitations in terms of size, number, or extent.

Discrete Variable

A variable that can take on a countable number of distinct values and cannot take on every value within its range.