Economists measure opportunity cost
A) as equal to the sum of all the sunk costs.
B) only when it is on the margin.
C) as the best thing given u
C
You might also like to view...
The battery packs used in electric and hybrid automobiles are one of the largest cost components for manufacturing these cars. As the price of these batteries decline, we expect that the:
A) supply curve for electric and hybrid autos will shift rightward. B) supply curve for electric and hybrid autos will shift leftward. C) demand curve for electric and hybrid autos will shift rightward. D) demand curve for electric and hybrid autos will shift leftward.
An increase in the US demand for British pounds causes
a. An appreciation of the pound b. Depreciation of the dollar c. None of the above d. Both a and b
Export demand for commodities is affected by
A) A stronger U.S. dollar. B) Contractionary monetary policy which leads to higher U.S. interest rates relative to importing countries. C) Expansionary fiscal policy which leads to higher U.S. interest rates relative to importing countries. D) All of the above.
The labor force participation rate is the number
A. Of employed divided by the total population. B. In the labor force divided by the working-age population. C. Of unemployed divided by the number of employed. D. Of employed divided by the number in the labor force.