The demand curve for human organs is upward sloping
a. True
b. False
Indicate whether the statement is true or false
False
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Which of the following is an example of mixed bundling?
A) a suit jacket B) dinner at a buffet restaurant C) a desktop computer and monitor D) All of the above.
Joe is maximizing utility by consuming three colas at $2 apiece and four hot dogs. The last cola gave him 200 units of utility, and the last hot dog gave him 300 units of utility. The price of each hot dog is:
A. $1.00. B. $0.50. C. $3.00. D. $1.50.
Table 1.3 shows the hypothetical trade-off between different combinations of brushes and combs that might be produced in a year with the limited capacity for Country X, ceteris paribus.Table 1.3Production Possibilities for Brushes and CombsCombinationNumber of BrushesOpportunity Cost of Brushes in Terms of CombsNumber of CombsOpportunity Cost of Combs in Terms of BrushesJ0 4 K10 3 L17 2 M21 1 N23 0 Table 1.3Production Possibilities for Brushes and CombsCombinationNumber of combsOpportunity Cost(Foregone brushes)Number of brushesOpportunity Cost (Foregone combs)J4 0NAK3 10 L2 17 M1 21 N0NA23 On the basis of Table 1.3, what is the opportunity cost of producing at point M rather than point N?
A. 1 brush. B. 23 combs. C. 21 combs. D. 2 brushes.
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, as the economy moves from Point A to Point E, the opportunity cost of motorcycles, measured in terms of hybrid cars
A. remains constant. B. decreases. C. initially increases, then decreases. D. increases.