Suppose that there are only two types of output in a country: nuclear missiles and consumer goods. All else being constant, as the nation produces more missiles, Group of answer choices the greater the opportunity cost will be of satisfying consumer wants. it will need to give up fewer and fewer consumer goods. every additional missile will increase consumer goods production by more and more. the opportunity cost of consumer wants being satisfied will diminish.

Opportunity cost is defined as the alternative forgone inorder to take a particular action. For example to go to movie an individual will have to forgoes the earnings he would have made from working.

The production possibility frontier states the combination two products that are produced by an economy.

The higher the amount of one commodity produced the less of the other that will be made.

In this instance when more missiles are produced small amounts of consumer goods will be produced, and a higher opportunity cost of not producing consumer goods is incurred.

ewomazinoade ewomazinoade · Answer 2 · 2020-03-19T01:33:07+01:00

Answer:

the greater the opportunity cost will be of satisfying consumer wants.

Explanation:

Opportunity cost is the cost of the next best option forgone when one alternative is chosen over other alternatives.

The production possibility frontier is a graph that shows the two combinations of goods that a country can produce given its resources.

The graph is bowed outward due to increasing opportunity cost.

For example, let us assume a country can produce 10 units of nuclear weapons and 5 units of consumer goods. If production of nuclear weapons is increased to 12 units, the country can only produce 3 units of consumer goods. We can see that more units of consumer goods is given up to increase the amount of nuclear weapons produced.

I hope my answer helps you