Question

Graph 1.9 A (0,20) B (1,18) C (2,15) D (3,11) E (4,6) F (5,0) Motorcycles (millions) Small Cars (millions) Refer to the diagram. If society is currently producing 2 million small cars and 15 million motorcycles, what is the opportunity cost of increasing production of small cars to 3 million? 5 million motorcycles 4 million motorcycles 11 million motorcycles 15 million motorcycles

          Graph 1.9
A (0,20)
B (1,18)
C (2,15)
D (3,11)
E (4,6)
F (5,0)
Motorcycles (millions)
Small Cars (millions)
Refer to the diagram. If society is currently producing 2 million small cars and 15 million
motorcycles, what is the opportunity cost of increasing production of small cars to 3 million?
5 million motorcycles
4 million motorcycles
11 million motorcycles
15 million motorcycles

Graph 1.9
A (0,20)
B (1,18)
C (2,15)
D (3,11)
E (4,6)
F (5,0)
Motorcycles (millions)
Small Cars (millions)
Refer to the diagram. If society is currently producing 2 million small cars and 15 million
motorcycles, what is the opportunity cost of increasing production of small cars to 3 million?
5 million motorcycles
4 million motorcycles
11 million motorcycles
15 million motorcycles

Added by David S.

Principles of Economics

Gregory Mankiw 8th Edition

Instant Answer

Solved by Expert Sai Sai

Step 1

The slope of a line can be found using the formula: slope = (change in y) / (change in x) In this case, the change in y is 15 - 15 = 0 (since the y-coordinate is the same for both points), and the change in x is 118 - 2 = 116. Show more…

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Graph 1.9 A(0, 20) B(118, 15) C(2, 15) D(3, 11) ts 6 E(4, 6) - - - F(5, 0) 1 2 3 4 Small Cars (millions) 5 Refer to the diagram. If society is currently producing 2 million small cars and 15 million motorcycles, what is the opportunity cost of increasing production of small cars to 3 million? O5 million motorcycles 4 million motorcycles O11 million motorcycles O15 million motorcycles