If Additional Units of Output Could Be Produced at Constant

question 99

Multiple Choice

If additional units of output could be produced at constant opportunity cost, the production possibilities curve would be:

• A)bowed inward toward the origin.
• B)bowed outward away from the origin.
• C)positively sloped with a concave curvature.
• D)a straight line with a negative slope.
• E)positively sloped with a convex curvature.

---

Definitions:

Product Differentiation

The strategy of making a product or service stand out from competitors in the market by emphasizing unique features, quality, or branding.

Market Structure

The organizational and other characteristics of a market that influence the nature of competition and pricing.

Strategic Behavior

The actions taken by companies or individuals in anticipation of their rivals' actions and reactions to maximize their own benefits.

Influences Market Price

Factors or conditions that affect the selling price of goods or services in a market, including supply, demand, competition, and external economic conditions.