The production possibilities curve below shows the hypothetical relationship between the production of capital goods and consumer goods in an economy.What is the marginal opportunity cost of producing the third unit of capital goods?Multiple Choice4 units of consumer goods5 units of consumer goods6 units of consumer goods7 units of consumer goods

Answer the question on the basis of the following production possibilities tables for two countries, North Cantina and South Cantina.   North Cantina Production PossibilitiesA B C D E FCapital Goods 5 4 3 2 1 0Consumer Goods 0 10 18 24 28 30   South Cantina Production PossibilitiesA B C D E FCapital Goods 5 4 3 2 1 0Consumer Goods 0 8 15 21 25 27 Refer to the tables. If North Cantina is producing at production alternative A, the opportunity cost of the first unit of consumer goods will beMultiple Choice5 units of capital goods.1/10 of a unit of capital goods.1/5 of a unit of capital goods.1 unit of capital goods.

Suppose an economy produces consumer goods and capital goods. Its current combination of production involves a higher level of capital goods than consumer goods. Which of the following can be inferred from this current choice on its production possibilities curve?Multiple choice question.That its present choice in production may result in higher future prospects for economic growthThat its future choice in production may result in higher present prospects for economic growthThat its present choice in production has no effect on future prospects for economic growthThat its present choice in production may result in lower future prospects for economic growth

In drawing the production possibilities curve we assume that:Multiple Choiceunemployment exists.economic resources are unlimited.technology is fixed.wants are limited.

Multiple Choice QuestionWhat is the marginal product?Multiple choice question.The ability of one product to be acceptably substituted for another productThe price at which a product will no longer be profitableThe demand for a product that comes from demand for items for which it usedThe additional output from using one more unit of labor

A graph that shows the possible combinations of two different goods or services that can be produced with fixed resources and technology is the:Multiple choice question.production possibilities frontier.production management frontier.producer consumer frontier.profit possibilities frontier.