The opportunity cost of moving from point a to point b in the above figure is ________
A) zero
B) 3/2 pairs of socks per sweater
C) 3 pairs of socks
D) 2 sweaters
A
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Managers contribute to increased average labor productivity in each of the following ways except by:
A. dealing with suppliers. B. developing new products. C. obtaining financing. D. assigning workers to jobs.
Which of the following is an example of a normative statement?
A. A high rate of economic growth creates jobs. B. The rate of unemployment is 9%. C. The federal government spends half of its budget on national defense. D. Everyone in the United States deserves to be covered by national health insurance.
This agency is responsible for protecting consumers from products posing fire, electrical, chemical, or mechanical hazards or dangers to children
A) Environmental Protection Agency B) Consumer Product Safety Commission C) Equal Employment Opportunity Commission D) Occupational Safety and Health Administration
Price and total revenue are directly related when demand is
A. unit price elastic. B. price elastic. C. price inelastic. D. perfectly price elastic.