Tom Petty excels at producing rock videos. Tom Clancy excels at writing military novels. The difference in their skills is one reason why the production possibilities frontier for videos and novels
A) is shallower to the right.
B) is steeper to the right.
C) has a constant slope.
D) has a positive slope.

Question

Quizplus · Accepted Answer

The difference in skills between Tom Petty and Tom Clancy means that the opportunity cost of producing videos versus novels may vary greatly. For Tom Petty, the opportunity cost of producing a video may be relatively low compared to producing a novel, while for Tom Clancy, the opportunity cost of producing a novel may be relatively low compared to producing a video. This leads to a steeper slope of the production possibilities frontier, indicating that as more of one good is produced, the opportunity cost of producing the other good increases at a faster rate.

Tom Petty Excels at Producing Rock Videos