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Question 22 Exhibit 2-15 Production possibilities curve 50 48 J 40 L Consumption 30 goods 25 M P 20 10 N 0 10 20 30 40 50 Capital goods 2.5 pt In Exhibit 2-15, evidence of the law of increasing opportunity costs is: to get the first 10 capital goods, economy has to give up 2 consumption goods but to get the next 10 capital goods, the economy has to give up 8 consumption goods. the downward slope of the production possibilities curve. the amount of capital goods increases by 10 units as the economy moves from point J to point K to point L to point M to point N. the amount of capital goods increases by 10 units as the economy moves from point L to point G.

          Question 22
Exhibit 2-15 Production possibilities curve
50
48
J
40
L
Consumption 30
goods 25
M
P
20
10
N
0
10 20 30 40 50
Capital goods
2.5 pt
In Exhibit 2-15, evidence of the law of increasing opportunity costs is:
to get the first 10 capital goods, economy has to give up 2 consumption goods but to get the next 10 capital
goods, the economy has to give up 8 consumption goods.
the downward slope of the production possibilities curve.
the amount of capital goods increases by 10 units as the economy moves from point J to point K to point L to
point M to point N.
the amount of capital goods increases by 10 units as the economy moves from point L to point G.

Question 22
Exhibit 2-15 Production possibilities curve
50
48
J
40
L
Consumption 30
goods 25
M
P
20
10
N
0
10 20 30 40 50
Capital goods
2.5 pt
In Exhibit 2-15, evidence of the law of increasing opportunity costs is:
to get the first 10 capital goods, economy has to give up 2 consumption goods but to get the next 10 capital
goods, the economy has to give up 8 consumption goods.
the downward slope of the production possibilities curve.
the amount of capital goods increases by 10 units as the economy moves from point J to point K to point L to
point M to point N.
the amount of capital goods increases by 10 units as the economy moves from point L to point G.

Added by Josefina G.

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