A straight-line production possibilities curve takes this shape because
A) the opportunity cost of producing a good is constant.
B) the opportunity cost of producing more of a good is decreasing.
C) resources are better suited for producing one output than another.
D) resources are fixed.
A
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Which of the following would empirically support the claim that slave owners were optimistic about the future of the slave system in the 1850s?
(a) Rising slave prices (b) An increasing demand for slaves (c) A positive net return to slave purchases (d) All of the above
In 1952, there were _____ school districts in the United States
a. fewer than 15,000 b. around 30,000 c. around 45,000 d. more than 60,000
Calculate the following probabilities using the standard normal distribution. Sketch the probability distribution in each case, shading in the area of the calculated probability
(a) Pr(Z < 0.0) (b) Pr(Z ? 1.0) (c) Pr(Z > 1.96) (d) Pr(Z < –2.0) (e) Pr(Z > 1.645) (f) Pr(Z > –1.645) (g) Pr(–1.96 < Z < 1.96) (h.) Pr(Z < 2.576 or Z > 2.576) (i.) Pr(Z > z) = 0.10; find z. (j.) Pr(Z < –z or Z > z) = 0.05; find z. What will be an ideal response?
Bubba is a shrimp fisherman who used $2,000 from his personal savings account to buy a boat and equipment for his shrimp business. The savings account paid 2% interest. What is Bubba's annual opportunity cost of the financial capital that he invested in his business?
a. $20 b. $40 c. $200 d. $400