In an Added Perspective, we learn that Elaine Rodier gave up a job as a nursery school teacher to make appetizers. In doing this, she incurs a(n)
a. implicit cost less than her lost income
b. explicit cost at least equal to her lost income
c. opportunity cost at least equal to her lost income
d. variable cost equal to her lost income
e. marginal cost equal to her lost income
C
You might also like to view...
Incremental benefits refer to the
a. accumulated gains linked to environmental policy b. total social benefits of avoiding ecological damage c. reduction in environmental damages associated with an environmental policy initiative d. none of the above
What is the purpose of antitrust legislation?
What will be an ideal response?
Cyclical unemployment is caused by
a. frictional and structural unemployment b. frictional but not structural unemployment c. structural but not frictional unemployment d. neither frictional nor structural unemployment
To decrease the money supply, the Fed could
a. sell government bonds. b. increase the discount rate. c. increase the reserve requirement. d. All of the above are correct.