Amy is thinking about going to the movies tonight. A movie ticket costs $15, and she'll have to cancel a $20 dog-sitting job that she would have been willing to do for free. The opportunity to Amy cost of going to the movies is:
A. $5.
B. $20.
C. $15.
D. $35
Answer: D
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More goods are available to the average American today than two hundred years ago, but today an American has to work more hours to earn the money to purchase most items
a. True b. False Indicate whether the statement is true or false
A monopolist's profit is equal to (Price – Marginal Cost) × Quantity
a. True b. False Indicate whether the statement is true or false
Economic profit
a. will never exceed accounting profit. b. is most often equal to accounting profit. c. is always at least as large as accounting profit. d. is a less complete measure of profitability than accounting profit.
Foreign income is defined to be income earned:
A. on investments made abroad. B. by those living outside a country. C. when a domestic citizen works abroad. D. by a nation's firms when they operate abroad.