ECON 202 SUMMER 1 2018 E2 Dominic Lachance1 6/26/18 3:17 PM Homework: Final Exam

Question

ECON 202 SUMMER 1 2018 E2 Dominic Lachance1 6/26/18 3:17 PM Homework: Final Examination Score: 0 of 1 pt Multiple Choice Quiz 3 Save 3 of 16 (13 complete) HW Score: 68.75% 1 1 of 16 pts Question Hep The table shows the PPF of an and community The community's opportunity cost of producing 1 pound of fis O A e increase in the quantity of betres gahoed as the quantity of tish 0and 40 2and 30 3and 22 4and 12 ncreaes by 1 pound O c ncreases as the quanity of tish caught increames O D. is 10 pounds of bernes i& the quiity of tish ncreases from 2 to 3 pounds Click to select your answer and then click Check Answer All parts showing

Explanation / Answer

C is correct

Opportunity cost of producing 1 fish is number of berries that has to be sacrificed. As number of fish caught increases number of berries falls. This shows that larger number of berries has to sacrificed if we want to increase number of fish caught.

This reflects increase in opportunity cost as fish caught increases.

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