Solved

-The Figure Above Shows the Production Possibilities Frontier for a Country.If

Question 41

Multiple Choice

  -The figure above shows the production possibilities frontier for a country.If the economy is operating at point B,then the opportunity cost of another million gallons of milk is A)  4 gallons of ice cream for a gallon of milk. B)  3 gallons of ice cream for a gallon of milk. C)  1 gallon of ice cream for a gallon of milk. D)  1/3 of a gallon of ice cream for a gallon of milk. E)  zero because after producing another million gallons of milk then zero gallons of ice cream are produced.
-The figure above shows the production possibilities frontier for a country.If the economy is operating at point B,then the opportunity cost of another million gallons of milk is


A) 4 gallons of ice cream for a gallon of milk.
B) 3 gallons of ice cream for a gallon of milk.
C) 1 gallon of ice cream for a gallon of milk.
D) 1/3 of a gallon of ice cream for a gallon of milk.
E) zero because after producing another million gallons of milk then zero gallons of ice cream are produced.

Correct Answer:

verifed

Verified

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

Related Questions