Multiple Choice
Which of the following correctly characterizes the shape of a constant opportunity cost production possibilities curve?
A) A straight line indicating that the law of increasing opportunity costs applies.
B) A straight line when there is constant opportunity costs.
C) A line that curves outward when resources are perfectly adaptable in the production of different goods.
D) A line that curves inward when resources are perfectly adaptable in the production of different goods.
Correct Answer:

Verified
Correct Answer:
Verified
Q22: The study of microeconomic theory focuses on
Q23: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5716/.jpg" alt=" In Figure 1.9,the
Q24: Table 1.1 shows the hypothetical trade-off
Q25: Economics can be defined as the study
Q26: Table 1.3 shows the hypothetical trade-off
Q30: Output combinations that lie inside the production
Q31: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5716/.jpg" alt=" In Figure 1.6,if
Q32: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5716/.jpg" alt=" In Figure 1.9
Q122: Macroeconomics focuses on the performance of<br>A) Individual
Q132: In using a guns and butter production