For each additional lamp produced,a constant opportunity cost is incurred in terms of bookshelves.This means
A)that it takes more resources to produce a lamp than a bookshelf.
B)that it takes fewer resources to produce a lamp than a bookshelf.
C)that for every lamp produced,a constant number of bookshelves is forfeited.
D)that for every lamp produced,a different number of bookshelves is forfeited.

Question

Quizplus · Accepted Answer

The constant opportunity cost indicates that producing one more lamp means giving up the opportunity to produce a constant number of bookshelves. Therefore, choice C is the best option.

For Each Additional Lamp Produced,a Constant Opportunity Cost Is Incurred