Award 250 out of 250 points answer the question on

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30.Award: 2.50 out of 2.50 pointsAnswer the question on the basis of the data given in the following production possibilitiestable:Refer to the table. For these data, the law of increasing opportunity costs is reflected in the factthat:the amount of consumer goods that must be sacrificed to get more capital goodsdiminishes beyond a point.larger and larger amounts of capital goods must be sacrificed to get additional units ofconsumer goods.the production possibilities data would graph as a straight downsloping line.the economy's resources are presumed to be scarce.
ReferencesMultiple ChoiceLearning Objective:01-06 Applyproductionpossibilitiesanalysis, increasingopportunity costs,and economicgrowth.
9/16/2015Assignment Print View29/3831.Award: 2.50 out of 2.50 pointsKelly works at an ice cream shop and observes that the number of people buying ice creamvaries greatly from day to day. For a couple of weeks she has recorded the number of peopleat the shop each day, as well as the daily temperature. If Kelly is using the scientific method tobetter understand ice cream buying habits, her next step is to:
ReferencesMultiple ChoiceLearning Objective:01-02 Describe therole of economictheory ineconomics.
9/16/2015Assignment Print View30/3832.Award: 2.50 out of 2.50 pointsRefer to the diagram. The equation that shows the relationship between Yand Xis:
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ReferencesMultiple ChoiceLearning Objective:01-08 (Appendix)Understand graphs,curves, and slopesas they relate toeconomics.
9/16/2015Assignment Print View31/3833.Award: 2.50 out of 2.50 pointsA typical concave (bowed out from the origin) production possibilities curve implies:
ReferencesMultiple ChoiceLearning Objective:01-06 Applyproductionpossibilitiesanalysis, increasingopportunity costs,and economicgrowth.
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