In movement along a production possibility frontier,the opportunity cost to society of getting more of one good:

A) is always constant.
B) is measured in dollar terms.
C) is measured by the amount of the other good that must be given up.
D) usually decreases.

Question

KeNdaLL ChAdWiCk · Accepted Answer

Final Answer : C, Explanation :  The opportunity cost of getting more of one good as we move along the production possibility frontier is measured by the amount of the other good that must be given up. This is because the production possibility frontier represents the maximum amount of output that can be produced from a given set of inputs, and as we produce more of one good, we must give up some of the other good because resources are limited. Therefore, the opportunity cost of producing more of one good is the amount of the other good that could have been produced instead.

In movement along a production possibility frontier,the opportunity cost to society of getting more of one good:

A) is always constant.
B) is measured in dollar terms.
C) is measured by the amount of the other good that must be given up.
D) usually decreases.

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Learning Objectives

Related questions

In movement along a production possibility frontier,the opportunity cost to society of getting more of one good:A) is always constant.B) is measured in dollar terms.C) is measured by the amount of the other good that must be given up.D) usually decreases.

Definitions

Learning Objectives

Learning Objectives

Related questions

In movement along a production possibility frontier,the opportunity cost to society of getting more of one good:

A) is always constant.
B) is measured in dollar terms.
C) is measured by the amount of the other good that must be given up.
D) usually decreases.