To find the opportunity cost of producing one more unit of any product while on the production possibilities frontier requires
A) subtracting the change in the product whose production increased from the change in the product whose production decreased.
B) dividing the amount of the product forgone by the amount of the product gained.
C) setting the amounts of the two products equal to each other.
D) setting the change in one product equal to the change in the other product.
E) None of these describes how to find opportunity cost.
B
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A firm's net income is also its
A) opportunity cost. B) accounting profit. C) balance sheet. D) economic profit.
Corporations can use any of the following to finance their operations except which one?
a. income taxes b. common stock c. preferred stock d. corporate bonds e. convertible stock
The United States has more income inequality than Brazil and South Africa
a. True b. False Indicate whether the statement is true or false
The price elasticity of demand for bread is
a. computed as the change in the price of bread divided by the change in the quantity demanded of bread. b. independent of the availability of close substitutes. c. influenced by whether consumers view bread as a necessity or luxury. d. All of the above are correct.