Which of the Following Choices Correctly Illustrates How Changes in Opportunity

question 228

Multiple Choice

Which of the following choices correctly illustrates how changes in opportunity costs affect supply?

• A) A farmer produces corn and wheat. The price of wheat rises, so he shifts his resources toward wheat and the supply of wheat rises.
• B) A fisherman fishes for lobsters and oysters. The price of lobsters rises, so he decides to spend more of his time fishing for oysters because he can make the same amount of money with fewer lobsters.
• C) A textbook for economics becomes cheaper, so more students opt to buy that particular textbook.
• D) Milk and cereal are complementary goods, so when the price of cereal falls, the quantity supplied of milk rises.

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Definitions:

Dalit

A term for individuals belonging to the lowest caste in India, historically subjected to discrimination and social exclusion.

Sudras

Sudras represent the fourth and lowest class in the traditional Hindu social hierarchy, traditionally tasked with serving the other three classes.

Hindu Castes

A traditional system of hierarchical social stratification in Hindu society, dividing people into categories based on inherited status and profession.

Parallel Cousins

The children of a father's brother or a mother's sister, considered in some cultures to be nearly as closely related as siblings.