Refer to Table 2-3. Dina faces ________ opportunity costs in the production of sliders and hot wings
A) negative B) constant C) increasing D) decreasing
B
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In economic terms, the total price of a pound of meat for an individual who has waited in line is
A. the money price of the meat plus the opportunity cost of time spent waiting in line. B. the money price of meat relative to the price of bread or other necessity. C. the money price of an equal amount of meat substitute, such as beans and rice. D. the money price paid to the butcher for the pound of meat.
A dairy company, Farley Farm, has total costs of $10,000 and total variable costs of $3,000. Farley Farm's total fixed costs are
A. $0. B. $7,000. C. $13,000. D. indeterminate because the firm?s output level is not known.
Input demand is derived demand in the sense that it is dependent upon the productivity of the input.
Answer the following statement true (T) or false (F)
When CSU sophomore Cody Clow and his housemates chose not to heed the city's ordinance against unreasonable noise and host a loud party at their off-campus residence last fall, they were confronted and ticketed by police
Fort Collins city code describes unreasonable noise as any sound that will "unreasonably interfere with the enjoyment of life or property." What is TRUE about this situation? A) Marginal external costs are positive. B) Marginal external costs are negative. C) Marginal external benefits are positive. D) Marginal external benefits are negative.