Question: 17. Opportunity cost can be represented graphically by the a. area inside the production possibilities frontier. b. slope of the production possibilities frontier. c. vertical

17. Opportunity cost can be represented graphically by the

a. area inside the production possibilities frontier. b. slope of the production possibilities frontier. c. vertical distance from the horizontal axis to the production possibilities frontier. d. horizontal distance from the vertical axis to the production possibilities frontier. e. sum of the horizontal and vertical distances to the production possibilities frontier.

18. The price of fresh fish rose and the quantity sold also fell. Everything else being equal, it is consistent that

a. consumers developed a taste for fish. b. the price of meat rose. c. the cost of gasoline fell. d. the price of frozen fish for export increased. e. the supply of fresh fish increased.

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