Robinson Crusoe divides his time between catching fish and gathering fruit. Part of his production possibilities frontier is given in the above table
If Mr. Crusoe is on his PPF and he increases the amount of fruit he gathers from 56 to 90 pounds, the opportunity cost is
A) 37 pounds of fish.
B) 31 pounds of fish.
C) 17 pounds of fish.
D) 34 pounds of fruit.
E) 90 pounds of fruit.
C
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Suppose the price of a movie falls from $9 to $7. Using the midpoint method, what is the percentage change in price?
A) 33 percent B) -33 percent C) 25 percent D) -25 percent E) -97 percent
An increase in the duration of unemployment should be linked to a decrease in flows in and out of unemployment, if one is to keep unemployment constant
a. true b. false
An emissions standard will work best in which of the following cases?
a. The marginal cost of pollution reduction curve is relatively flat b. The marginal cost of pollution reduction curve is relatively steep c. All firms have similar equipment and technology d. The health effects of a pollutant are relatively unknown e. Firms have very different equipment and technology
Explain the obstacles to more widespread adoption of labeling as a method of reducing environmental and child labor problems
What will be an ideal response?