Answer the question on the basis of the data given in the following production possibilities table. Production Possibilities (Alternatives) A D E F Capital Goods 4 2 1 Consumer Goods 9. 12 14 15 Refer to the table. For these data, the law of increasing opportunity costs is reflected in the fact that Select one: O A. the production possibilities data would graph as a straight downsloping line. B. the economy's resources are presumed to be scarce. O C. larger and larger amounts of capital goods must be sacrificed to get additional units of consum O D. the amount of consumer goods that must be sacrificed to get more capital goods diminishes b

Exhibit 2-10 production possibilities curve data   A B C D E Capital Goods 0 1 2 3 4 Consumption goods 25 23 19 13 0 Suppose an economy is faced with the production possibilities table shown in Exhibit 2-10. As additional units of capital goods are being produced, the number of consumption goods produced must: A) Increase because the production possibility table shows only the maximum efficiency points. B) Increase because of the law of increasing costs. C) Decrease because of the law of increasing costs. D) Decrease because of the finite nature of the resource base.

Tell me why each point deserves to be where it is

4. Suppose you have midterms in economics and psychology tomorrow, and you have 6 hours left to study. The table below shows your expected exam scores, given the amount you study for each exam. Hours spent studying economics 0 1 2 3 4 5 6 Economics exam score 40 60 a. 70 75 79 84 88 Hours spent studying Psychology 0 1 2 3 4 5 6 Psychology exam score 50 65 75 83 90 93 94 a) Draw your production possibilities frontier (PPF) to illustrate your study options. If you have already spent 5 hours studying for psychology, what is the opportunity cost of increasing your psychology grade by one more point? X b) If your goal is to maximize your combined exam scores, how many hours should you spend studying each subject? c) If, instead, a club meeting gets canceled and gives you 7 hours to study, how would this change your production possibilities frontier? Illustrate this change on your graph from part 5. Graph the following demand curve for the loose-leaf Stevenson/Wolfers Principles of Economics…