John only had $40 to spend and couldn't decide whether to buy a new pair of jeans or to go to an amusement park. He finally decided to spend his money on the amusement park. What was the opportunity cost of his decision?
A. $40
B. New pair of jeans
C. Trip to amusement park
D. No opportunity cost was involved.
B. New pair of jeans
Economics
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Refer to Figure 11.5. An increase in the level of investment is best illustrated by diagram
A) A. B) B. C) C. D) D.
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Consider the perfectly competitive firm in the above figure. At what price will long-run equilibrium occur?
A) $11 B) $12 C) $22 D) $23
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Of the two conflicts, __________ more severe as the firm becomes smaller
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