Multiple Choice
On a production possibilities frontier, the opportunity cost of one more unit of a commodity per time period is measured by the
A) monetary price of the commodity
B) amount of the other commodity that must be sacrificed
C) amount of unemployed resources that must be used
D) amount of satisfaction it gives consumers
E) amount of tax paid to government for production, sale, and use of the commodity
Correct Answer:

Verified
Correct Answer:
Verified
Q164: The economic question of what will be
Q165: The economic question of "what to produce"
Q166: Points outside the production possibilities frontier represent<br>A)unemployment
Q167: Which of the following is not a
Q168: If people specialize in producing those goods
Q170: The reason that the production possibilities frontier
Q171: A production possibilities frontier can shift outward
Q172: An economic system<br>A)must answer the three economic
Q173: A major distinguishing feature between capitalist and
Q174: Exhibit 2-8 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6784/.jpg" alt="Exhibit 2-8