Generally, on a linear two-good production possibilities curve, the opportunity cost of the good measured on the vertical axis is:
A. the reciprocal of the opportunity cost of the good measured on the horizontal axis.
B. one minus the opportunity cost of the good measured on the horizontal axis.
C. the negative of the opportunity cost of the good measured on the horizontal axis.
D. the absolute value of the slope of the production possibilities curve.
Answer: A
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The airline industry is an example of an oligopoly.
Answer the following statement true (T) or false (F)