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DragoxCM16 DragoxCM16
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5 years ago

Question 1.

A society can produce two goods: donuts and beer. The society's production possibility frontier is negatively sloped and "bowed outward" from the origin. As this society moves up its production possibility frontier, producing more and more units of donuts, the opportunity cost of producing beer



▸ decreases.

▸ remains constant.

▸ increases.

▸ could decrease or increase depending on the technology.

Question 2.

If the opportunity costs of producing a good increase as more of that good is produced, the economy's production possibility frontier will be



▸ negatively sloped and "bowed inward" toward the origin.

▸ negatively sloped and "bowed outward" from the origin.

▸ a negatively sloped straight line.

▸ a positively sloped straight line.
Textbook 
Principles of Economics

Principles of Economics


Edition: 12th
Authors:
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anuja709anuja709
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DragoxCM16 Author
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#2
5 years ago
Thank you for answering so quickly
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