Post Utme Bowen University 2022 Economics Question 11

Practice objective / multiple choice question 11 from the 2022 Post Utme Bowen University Economics examination.

Post Utme Bowen University 2022 Economics Objective / Multiple Choice
Question 11 POST_UTME_BOWEN_UNIVERSITY • 2022 • ECONOMICS • objective

Consider a production possibility frontier (PPF) with two goods, X and Y. If the PPF shifts outward due to an increase in the availability of resources, what is the opportunity \cost of producing more of good X?

Answer Options

Correct Answer A. The opportunity \cost of producing more of good X is the amount of good Y that must be sacrificed.
B. The opportunity \cost of producing more of good X is the amount of good X that must be sacrificed.
C. The opportunity \cost of producing more of good X is the amount of good Y that must be produced.
D. The opportunity \cost of producing more of good X is the amount of good X that must be produced.
Correct Answer
A
Correct Option:
The opportunity \cost of producing more of good X is the amount of good Y that must be sacrificed.

About This Question

This is Post Utme Bowen University 2022 Economics Question 11. It is one of the objective questions from the 2022 Post Utme Bowen University Economics examination.

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