Question

The opportunity cost of a decision can be examined by using a _____. graph of increasing costs production possibilities graph factors of production chart global trade-off grid

Answer 1

The opportunity cost of a decision can be examined by using a production possibilities graph of increasing costs.

Step-by-step explanation:

A production possibilities graph shows alternative ways that an economy can use its resources.The production possibilities frontier is the line that shows the maximum possible output for that economy.

Efficiency means using resources in such a way as to maximize the production of goods and services. An economy producing output levels on the production possibilities frontier is operating efficiently.