If the Production Possibility Frontier Is a Straight Line

question 137

Multiple Choice

If the production possibility frontier is a straight line:

• A)opportunity costs are constant.
• B)firms face increasing costs.
• C)firms face decreasing costs.
• D)there is no trade-off between the two goods represented.

Acknowledge the role of the self in cognitive processing and memory.

Comprehend the significance of possible selves in guiding behavior and motivation.

Appreciate the therapeutic approach of changing irrational beliefs to address psychological problems.

Understand the concept of social comparison and its impact on individual behavior and self-assessment.

---

Definitions:

Club Goods

Items that are non-rivalrous but excludable, meaning that one person's use does not reduce availability to others but access can be restricted, typically through a membership fee.

Private Goods

Private goods are products that are excludable and rival in consumption, meaning their use is limited to paying customers and one person's consumption prevents another's.

Externalities

Economic side effects or consequences that affect uninvolved third parties; can be negative (costs) or positive (benefits).

Not Excludable

A characteristic of goods or services that does not allow for the prevention of use by individuals who have not paid for it.