In the above figure, which of the following is TRUE regarding the movements from point A to B and from point C to D? 1) The movement from point A to B shows that the economy has chosen to produce 100 more jets. II) The opportunity cost for an additional jet is lower with the movement from point A to B than from point C to D. III) The opportunity cost for an additional jet is higher with the movement from point A to B than from point C to D.
In the above figure, which of the following is TRUE regarding the movements from point A to B and from point C to D? 1) The movement from point A to B shows that the economy has chosen to produce 100 more jets. II) The opportunity cost for an additional jet is lower with the movement from point A to B than from point C to D. III) The opportunity cost for an additional jet is higher with the movement from point A to B than from point C to D.
Chapter1: The Art And Science Of Economic Analysis
Section: Chapter Questions
Problem 4.7P
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Question
![Tanks (hundreds per month)
2
3
Jets (hundreds per month)
In the above figure, which of the following is TRUE regarding the movements from point A to B and from point C to D?
1) The movement from point A to B shows that the economy has chosen to produce 100 more jets.
II) The opportunity cost for an additional jet is lower with the movement from point A to B than from point C to D.
III) The opportunity cost for an additional jet is higher with the movement from point A to B than from point C to D.
I and III
I and II
II and III
I, II and III](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Faf09ae9b-edd2-4965-9a7b-c4502b9d521c%2F6baa472d-73b7-4079-8880-0ad923222146%2Fbrnfr2b_processed.png&w=3840&q=75)
Transcribed Image Text:Tanks (hundreds per month)
2
3
Jets (hundreds per month)
In the above figure, which of the following is TRUE regarding the movements from point A to B and from point C to D?
1) The movement from point A to B shows that the economy has chosen to produce 100 more jets.
II) The opportunity cost for an additional jet is lower with the movement from point A to B than from point C to D.
III) The opportunity cost for an additional jet is higher with the movement from point A to B than from point C to D.
I and III
I and II
II and III
I, II and III
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