Refer to the production possibilities frontier for Robin Cruise below. Production Possibilities Frontier for Robin Cruise 10 6 8 A 7 6 Fish (pounds) S 4 3 2 1 0 1 2 3 4 5 9 B 7 8 9 10 Vegetables (pounds) Instructions: Round your answers to one decimal place. a. If society is operating at point A, the cost of producing an additional pound of vegetables is pound(s) of fish b. If society is operating at point B, the cost of producing an additional pound of vegetables is pound(s) of fish c. This production possibilities frontier exhibits O constant opportunity costs. O decreasing opportunity costs. increasing opportunity costs. O negative opportunity costs.
Refer to the production possibilities frontier for Robin Cruise below. Production Possibilities Frontier for Robin Cruise 10 6 8 A 7 6 Fish (pounds) S 4 3 2 1 0 1 2 3 4 5 9 B 7 8 9 10 Vegetables (pounds) Instructions: Round your answers to one decimal place. a. If society is operating at point A, the cost of producing an additional pound of vegetables is pound(s) of fish b. If society is operating at point B, the cost of producing an additional pound of vegetables is pound(s) of fish c. This production possibilities frontier exhibits O constant opportunity costs. O decreasing opportunity costs. increasing opportunity costs. O negative opportunity costs.
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Transcribed Image Text:Refer to the production possibilities frontier for Robin Cruise below.
Production Possibilities Frontier
for Robin Cruise
10
6
8
A
7
6
Fish (pounds)
S
4
3
2
1
0
1 2
3
4
5
9
B
7
8 9
10
Vegetables (pounds)
Transcribed Image Text:Instructions: Round your answers to one decimal place.
a. If society is operating at point A, the cost of producing an additional pound of vegetables is
pound(s) of fish
b. If society is operating at point B, the cost of producing an additional pound of vegetables is
pound(s) of fish
c. This production possibilities frontier exhibits
O constant opportunity costs.
O decreasing opportunity costs.
increasing opportunity costs.
O negative opportunity costs.
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