Multiple Choice
As an economy increasingly specialises in producing one good, the opportunity cost of that good increases. The opportunity cost increases because
A) as more of a good is produced the profit from its production must rise.
B) not all goods are equally valuable.
C) resources are not equally productive in all activities.
D) what must be paid to resources increases.
E) human wants are virtually unlimited.
Correct Answer:

Verified
Correct Answer:
Verified
Q5: On a production possibilities frontier, 500 kilograms
Q6: The production possibilities frontier is a graph
Q7: Suppose a country operates on its production
Q8: The bowed out (concave) shape of the
Q9: The table above shows the production possibilities
Q11: If the production possibilities frontier between bottled
Q12: For country Gamma, the opportunity cost for
Q13: In terms of a nation's production possibilities
Q14: When all of the available factors of
Q15: If a nation devotes a larger share