Author Question: When the opportunity cost of producing carrots increases as more carrots are produced, then: a. no ... (Read 304 times)

Wadzanai · **on:** Jun 30, 2018

When the opportunity cost of producing carrots increases as more carrots are produced, then:
a. no more carrots will be produced.
b. resources are equally suited to the production of carrots and to other goods.
c. the production possibilities curve is a straight line.
d. the production possibilities curve becomes positively sloped.
e. the law of increasing costs is present.

Question 2

Mikki decides to work five hours the night before her economics exam. She earns an extra 75, but her exam score is 10 points lower than it would have been had she stayed home and studied. Her opportunity cost is the:
a. five hours she worked.
b. 75 she earned.
c. 10 points she lost on her exam.
d. time she could have spent watching television.
e. guilt she feels about neglecting her economics studies.