PPC Review

The opportunity cost of increasing production from 7 to 9 trucks is

• Scarcity
• 2 boats
• 2 trucks
• 3 boats

The opportunity cost of increasing production from 7 to 9 boats is

• Scarcity
• 2 boats
• 2 trucks
• 3 trucks

The opportunity cost of increasing production from 4 to 7 boats is

• 1 boat
• 2 boats
• 2 trucks
• 3 trucks

What is the opportunity cost of going from day 5 to day 2?

• 700 Donuts
• 21 Soccer balls
• 0 Donuts
• 0 Soccer Balls

What is the opportunity cost of going from day 2 to day 5 is what?

• 21 Soccer Balls
• 700 Donuts
• 1000 donuts
• 25 Soccer balls

The opportunity cost of going from day 4 to day 1 is what?

• 500 Donuts
• 19 Soccer Balls
• 300 Donuts
• 3 days

What is the opportunity cost of going from day 1 to day 6 is what?

• 25 Soccer balls
• 1000 Donuts
• 5 days
• 1025 donuts

Point C on the chart below, represents which of the following concepts?

• Unattainable
• Max Efficiency
• Underutilization
• Incentive

If I hired a helper to make donuts and soccer balls along with myself, the line would move closer to which letter or point?

• Point C
• Point B
• Point A
• Would not move

A firm operating at 'X' produces 70 whips and 60 saddles. It changes production to 'Y' producing 20 whips and 90 saddles. The opportunity cost of this production change is

• 20 whips

• 30 saddles

• 50 whips

• 60 saddles