Multiple Choice
If a production possibility frontier (PPF) is drawn concave to the origin with the quantity of shoes on the X-axis and the quantity of T-shirts on the Y-axis,a movement downward along the PPF reflects:
A) an increasing opportunity cost of producing T-shirts.
B) an increasing opportunity cost of producing shoes.
C) constant opportunity cost of producing T-shirts.
D) constant opportunity cost of producing shoes.
Correct Answer:

Verified
Correct Answer:
Verified
Q60: A linear production possibility frontier exhibits a(n)_
Q61: The _ is the absolute price of
Q62: In microeconomics,the term price generally refers to
Q63: Which of the following is an example
Q64: What is the opportunity cost of going
Q66: Economic theory:<br>A)can determine which public policy is
Q67: In the production possibility frontier in Figure
Q68: The opportunity cost of traffic congestion includes:<br>A)lower
Q69: The production possibility frontier in Figure 1-1
Q70: Write down a normative statement and a