{"id":46346,"date":"2024-04-15T22:11:01","date_gmt":"2024-04-15T22:11:01","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=46346"},"modified":"2024-04-15T22:11:01","modified_gmt":"2024-04-15T22:11:01","slug":"assume-that-a-ppc-for-wheat-and-rice-is-drawn-so-that-it-is-a-straight-line-this-means-that","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/assume-that-a-ppc-for-wheat-and-rice-is-drawn-so-that-it-is-a-straight-line-this-means-that\/","title":{"rendered":"Assume that a PPC for wheat and rice is drawn so that it is a straight line. This means that"},"content":{"rendered":"<p>\r\n    <!-- Check if it's an AMP page -->\r\n            <!-- Non-AMP version -->\r\n        <div class=\"mcq-container\" data-quiz-id=\"quizState_6a9786d8120a0\">\r\n                                            <div class=\"option\" data-option-key=\"option1\" data-is-correct=\"true\">\r\n                    the cost of producing rice in terms of wheat falls as more rice is produced                <\/div>\r\n                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            <div class=\"option\" data-option-key=\"option3\" data-is-correct=\"false\">\r\n                    the fixed costs of rice and wheat are equal                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option4\" data-is-correct=\"false\">\r\n                    the average cost of population of rice and wheat are at their optimum level                <\/div>\r\n                            \r\n            <!-- Feedback messages for non-AMP -->\r\n            <div class=\"feedback\" data-feedback=\"wrong\">Answer is Right!<\/div>\r\n            <div class=\"feedback\" data-feedback=\"right\">Answer is Wrong!<\/div>\r\n        <\/div>\r\n\r\n        <script>\r\n        document.addEventListener('DOMContentLoaded', function () {\r\n            var containers = document.querySelectorAll('.mcq-container');\r\n\r\n            containers.forEach(function(container) {\r\n                var options = container.querySelectorAll('.option');\r\n                var feedbackSelect = container.querySelector('[data-feedback=\"select\"]');\r\n                var feedbackWrong = container.querySelector('[data-feedback=\"wrong\"]');\r\n                var feedbackRight = container.querySelector('[data-feedback=\"right\"]');\r\n\r\n                options.forEach(function(option) {\r\n                    option.addEventListener('click', function() {\r\n                        var selectedOption = option.getAttribute('data-option-key');\r\n                        var isCorrect = option.getAttribute('data-is-correct') === 'true';\r\n\r\n                        \/\/ Remove previous selections\r\n                        options.forEach(function(opt) {\r\n                            opt.classList.remove('correct', 'incorrect');\r\n                        });\r\n\r\n                        \/\/ Add the correct\/incorrect class\r\n                        if (isCorrect) {\r\n                            option.classList.add('correct');\r\n                            feedbackRight.hidden = false;\r\n                            feedbackWrong.hidden = true;\r\n                        } else {\r\n                            option.classList.add('incorrect');\r\n                            feedbackRight.hidden = true;\r\n                            feedbackWrong.hidden = false;\r\n                        }\r\n\r\n                        \/\/ Hide select feedback\r\n                        feedbackSelect.hidden = true;\r\n                    });\r\n                });\r\n            });\r\n        });\r\n        <\/script>\r\n    \r\n    <!--more--><\/p>\n<p>The correct answer is A.<\/p>\n<p>A production possibility curve (PPC) is a graph that shows the maximum combinations of two goods that can be produced with a given amount of resources. A straight-line PPC means that the opportunity cost of producing one good in terms of the other is constant. This means that the cost of producing rice in terms of wheat does not change as more rice is produced.<\/p>\n<p>Option B is incorrect because the opportunity cost of producing one good in terms of the other is constant, not increasing. Option C is incorrect because the fixed costs of rice and wheat are not relevant to the opportunity cost of producing one good in terms of the other. Option D is incorrect because the average cost of production of rice and wheat is not relevant to the opportunity cost of producing one good in terms of the other.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Join Our Telegram Channel Subscribe on YouTube<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Assume that a PPC for wheat and rice is drawn so that it is a straight line. 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