On a production possibilities curve, the opportunity cost of good ...

[dalyningkenk]

On a production possibilities curve, the opportunity cost of good X, in terms of good Y, is represented by the:
 a. distance to the curve from the vertical axis.
  b. distance to the curve from the horizontal axis.
  c. movement along the curve.
  d. all of these.

Question 2

Bill has 10 to spend on a Superman, Batman, or an X-Men T-shirt. Bill buys the Superman T-shirt and the Batman shirt was a close second choice. What is the opportunity cost?
 a. The amount he spent, 10.
  b. Nothing, since he got his preferred choice.
  c. The Batman T-shirt.
  d. The X-Men T-shirt.

[lucas dlamini]

Answer to Question 1

c

Answer to Question 2

c

[dalyningkenk]

Excellent

[mcabuhat]

TYSM