32) Refer to the production possibilities frontier in Figure 2.1.2. At point A, the opportunity cost of producing 3 more units of X A) is 30 units of Y. B) is 3 units of X. C) is 20 units of Y. D) is 10 units of Y. E) cannot be determined from the diagram. Answer: C Diff: 2 Type: MC Topic: Production Possibilities and Opportunity Cost
33) Refer to the production possibilities frontier in Figure 2.1.2. At point A, the opportunity cost of increasing production of Y to 80 units is A) 10 units of Y. B) 80 units of Y. C) 2 units of X. D) 3 units of X. E) 1 unit of X. Answer: D Diff: 2 Type: MC Topic: Production Possibilities and Opportunity Cost
34) Refer to the production possibilities frontier in Figure 2.1.2. At point C, the opportunity cost of producing one more unit of X is A) 1 unit of Y. B) 1 unit of X. C) 8 units of X. D) 20 units of X. E) 20 units of Y. Answer: E Diff: 2 Type: MC Topic: Production Possibilities and Opportunity Cost
35) Refer to the production possibilities frontier in Figure 2.1.2. At point C, what is the opportunity cost of increasing the production of Y from 20 to 50 units? A) 6 units of X B) 2 units of X C) 8 units of X D) 20 units of Y E) 30 units of Y Answer: B Diff: 2 Type: MC Topic: Production Possibilities and Opportunity Cost
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