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mario62 [17]
3 years ago
12

Which of the following statements regarding the opportunity cost of producing potatoes and the production possibilities frontier

is true for the island of Atlantis? A. The island of Atlantis has an increasing opportunity cost of producing potatoes and the production possibility frontier is bowed outward. B. The island of Atlantis has an increasing opportunity cost of producing potatoes and the production possibility frontier is bowed inward. C. The island of Atlantis has a constant opportunity cost of producing potatoes and the production possibility frontier is linear. D. The island of Atlantis has an decreasing opportunity cost of producing potatoes and the production possibility frontier is bowed outward.
Business
1 answer:
Temka [501]3 years ago
8 0

Answer: A. The island of Atlantis has an increasing opportunity cost of producing potatoes and the production possibility frontier is bowed outward.

Explanation:

When there is an increasing opportunity cost of producing a good, the Production Possibilities Frontier (PPF) will be bowed out to represent that as more of the good is being produced, more of another good is being given up to do so.

For the island of Atlantis therefore, as they produce more of potatoes, they are giving up being able to produce whatever more and more of other goods they produce which is therefore leading to a PPF that is bowed outward.

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Answer:

A

Explanation:

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7 0
3 years ago
When a government fines and/or imprisons persons convicted of using illegal drugs, the government is attempting to decrease the
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When a government punishes and/or imprisons those who are found guilty of using illicit drugs, it is trying to stop the illegal drug trade by moving the demand curve for illegal substances to the left.

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4 0
1 year ago
A company plans to issue new Preferred Stock that pays 6% on the Par Value of $25. Similar preferred stocks are current selling
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Answer:

The cost of newly issued preferred stock to the firm is 5.82%

Explanation:

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Cost of new stock = Annual dividend / [Current price(1 - flotation costs)]

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