xam Table 1.4: Production Possibilities Schedule Choice Good A Good B 1 100 10 2 90 20 O 3 70 40 O 0 4 40 60 5 0 80 о о According to the production possibilities schedule in Table 1.4, which of the following statements is true? о O a. The opportunity cost of producing more of good A decreases as the amount of good A produced increases. 0 O b. If this economy were to fully and efficiently employ all its resources, it could provide 100 units of good A and 80 units of good B. о 0 Oc This economy could produce 70 units of good A and 40 units of good B. о d. The opportunity cost of producing more of good B decreases as the amount of good B produced increases. This economy could produce 100 units of good A and 20 units of good B.
xam Table 1.4: Production Possibilities Schedule Choice Good A Good B 1 100 10 2 90 20 O 3 70 40 O 0 4 40 60 5 0 80 о о According to the production possibilities schedule in Table 1.4, which of the following statements is true? о O a. The opportunity cost of producing more of good A decreases as the amount of good A produced increases. 0 O b. If this economy were to fully and efficiently employ all its resources, it could provide 100 units of good A and 80 units of good B. о 0 Oc This economy could produce 70 units of good A and 40 units of good B. о d. The opportunity cost of producing more of good B decreases as the amount of good B produced increases. This economy could produce 100 units of good A and 20 units of good B.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:xam
Table 1.4: Production Possibilities Schedule
Choice
Good A
Good B
1
100
10
2
90
20
O
3
70
40
O
0
4
40
60
5
0
80
о
о
According to the production possibilities schedule in Table 1.4, which of the following statements is true?
о
O a. The opportunity cost of producing more of good A decreases as the amount of good A produced increases.
0
O b.
If this economy were to fully and efficiently employ all its resources, it could provide 100 units of good A and 80 units of good B.
о
0
Oc This economy could produce 70 units of good A and 40 units of good B.
о
d. The opportunity cost of producing more of good B decreases as the amount of good B produced increases.
This economy could produce 100 units of good A and 20 units of good B.
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