A production possibilities frontier with increasing opportunity cost is considered _________ and one with constant opportunity cost is considered _____________.
Published on October 2017 | Categories: Science Fiction & Fantasy | Downloads: 86 | Comments: 0 | Views: 527
A production possibilities frontier with increasing opportunity cost is considered _________ and one with constant opportunity cost is considered _____________.
A.
concave; convex.
B.
convex; concave.
C.
concave; a straight line.
D.
vertical; horizontal
Total surplus is calculated as:
A.
consumer surplus plus market efficiency.
B.
producer surplus plus deadweight loss.
C.
consumer surplus plus deadweight loss.
D.
producer surplus plus consumer surplus.
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A production possibilities frontier with increasing opportunity cost is considered _________ and one with constant opportunity cost is considered _____________.
A.
concave; convex.
B.
convex; concave.
C.
concave; a straight line.
D.
vertical; horizontal
Total surplus is calculated as:
A.
consumer surplus plus market efficiency.
B.
producer surplus plus deadweight loss.
C.
consumer surplus plus deadweight loss.
D.
producer surplus plus consumer surplus.