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.
Answer: D
You might also like to view...
The percentage change in quantity demanded that results from a 1 percent change in price is known as the:
A. price elasticity of supply. B. cross-price elasticity of demand. C. price elasticity of demand. D. income elasticity of demand.
Someone who is available for work but has not actively looked for work in the previous four weeks would be classified as
A) employed. B) not in the labor force. C) not in the working-age population. D) unemployed.
An imperfectly competitive firm has the following demand curve: Q = 100 - 2P. What is marginal revenue equal to when P = 30?
What will be an ideal response?
The cost of attending college
a. is entirely monetary and consists of expenditures on tuition, books, transportation, and meals b. is not monetary, but consists solely of forgone income c. is the most valued alternative given up to attend college d. is negligible for most people, because they really have no choice but to attend college e. is the same whether you attend a public or a private college