If Jason can wash a car in 20 minutes and wash a dog in 10 minutes, and Megan can wash a car in 15 minutes and wash a dog in 15 minutes, which of the following statements is true?
a. The opportunity cost of washing a car is greater for Megan.
b. The opportunity cost of washing a car is one dog bath for Jason.
c. Megan could wash two cars in the time it takes to wash a dog.
d. Jason has both a comparative and an absolute advantage in washing a dog.
e. The opportunity cost of washing a dog is greater for Jason.
D
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Based on the figure above, which of the following factors could lead the supply curve to shift rightward from S0 to S2?
A) a fall in foreign interest rates B) a fall in the U.S. interest rate C) a rise in the U.S. exchange rate D) a fall in the U.S. exchange rate E) a rise in expected future U.S. exchange rate
When a union faces a monopsony buyer, a ________ exists
A) dual-monopoly B) monopoly C) bilateral monopoly D) monopolistic monopsony
Entrepreneurship is
A. the financial capital necessary to launch a new business. B. the talent to develop new products and processes and to organize production to make goods and services available. C. unskilled labor. D. the capital resources used to produce goods and services.
Technological advancements have led to lower prices and an increase in the sale of color laser printers. How does this affect the market for traditional inkjet printers?
A) The demand curve for inkjet printers shifts to the right. B) The demand curve for inkjet printers shifts to the left. C) The quantity of inkjet printers demanded increases. D) The quantity of inkjet printers demanded decreases.