Solved

The Absolute Value of the Slope of the Production Possibility

Question 11

Essay

The absolute value of the slope of the production possibility frontier at any point:
A.gives the price of the good on the vertical axis that must be given up to attain an additional unit of the good on the horizontal axis.
B.is found by dividing the horizontal change by a vertical change.
C.gives on the vertical axis the quantity of the good that must be given up to produce an additional unit of the good on the horizontal axis.
D.gives on the horizontal axis the price of the good relative to the price of the good on the vertical axis.

Correct Answer:

verifed

Verified

gives on the vertical axis the...

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents