If there is increasing opportunity cost, then when moving downward on a production possibilities frontier, the opportunity cost of the good on the horizontal axis ________ as more of the good is produced
A) increases and the PPF gets steeper
B) increases and the PPF gets flatter
C) decreases and the PPF gets steeper
D) decreases and the PPF gets flatter
E) does not change and the PPF gets steeper
A
Economics
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Relative percentage changes are used in measuring price elasticity of demand, so that
A) it does not matter whether price increases or decreases when calculating the elasticity. B) it does not matter what units are used to measure prices or quantities. C) we always obtain a positive number. D) larger numbers indicate greater responsiveness.
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What are two main obstacles to increased international integration?
What will be an ideal response?
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