Understanding Business
Understanding Business
12th Edition
ISBN: 9781259929434
Author: William Nickels
Publisher: McGraw-Hill Education
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Question
Refer to the production possibilities frontier for Robin Cruise below.
Production Possibilities Frontier
for Robin Cruise
10
6
8
A
7
6
Fish (pounds)
S
4
3
2
1
0
1 2
3
4
5
9
B
7
8 9
10
Vegetables (pounds)
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Transcribed Image Text:Refer to the production possibilities frontier for Robin Cruise below. Production Possibilities Frontier for Robin Cruise 10 6 8 A 7 6 Fish (pounds) S 4 3 2 1 0 1 2 3 4 5 9 B 7 8 9 10 Vegetables (pounds)
Instructions: Round your answers to one decimal place.
a. If society is operating at point A, the cost of producing an additional pound of vegetables is
pound(s) of fish
b. If society is operating at point B, the cost of producing an additional pound of vegetables is
pound(s) of fish
c. This production possibilities frontier exhibits
O constant opportunity costs.
O decreasing opportunity costs.
increasing opportunity costs.
O negative opportunity costs.
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Transcribed Image Text:Instructions: Round your answers to one decimal place. a. If society is operating at point A, the cost of producing an additional pound of vegetables is pound(s) of fish b. If society is operating at point B, the cost of producing an additional pound of vegetables is pound(s) of fish c. This production possibilities frontier exhibits O constant opportunity costs. O decreasing opportunity costs. increasing opportunity costs. O negative opportunity costs.
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