If the production possibilities frontier between two goods were a straight line, then the opportunity cost of one good in terms of another would be
A) constant.
B) increasing.
C) decreasing.
D) zero.
E) either constant, increasing, or decreasing but more information is needed to determine which.
A
Economics
You might also like to view...
Price elasticity of demand measures the:
A. slope of the demand curve. B. sensitivity of quantity demanded to changes in the price of substitute goods. C. sensitivity of price to changes in the quantity demanded of substitute goods. D. sensitivity of quantity demanded to changes in price.
Economics
If a labor market that was previously competitive becomes controlled by a monopsony, the wage rate ________ and employment ________
A) rises; increases B) falls; decreases C) rises; decreases D) falls; increase
Economics