Solved

If a Production Possibility Frontier Is Drawn Concave to the Origin

Question 15

Multiple Choice

If a production possibility frontier 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) a decreasing opportunity cost of both shoes and T-shirts.
B) an increasing opportunity cost of both shoes and T-shirts.
C) an increasing opportunity cost of shoes.
D) a decreasing opportunity cost of shoes.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions