The opportunity cost of moving from point T to point Q would be
A. giving up trips around the world.
B. giving up heart transplants.
C. gaining trips around the world.
D. gaining heart transplants.
A. giving up trips around the world.
You might also like to view...
The demand curve for labor of a monopolist
A) is horizontal even though the demand curve for labor for a competitive firm is downward sloping. B) slopes down for the same reason as the demand curve for labor of a perfectly competitive firm. C) slopes down because of the law of diminishing marginal product and because the monopolist must lower prices to sell additional units of the good. D) slopes upward because monopolists use more capital than do perfectly competitive firms.
The narrowest definition of money:
A. is referred to as hard money. B. includes the things that can be used in transactions immediately. C. contains only cash and bank reserves held at the Fed. D. All of these are true.
The opportunity cost of the debt is
A. Not an issue if the debt is financed internally. B. The decrease in public sector output because of government borrowing. C. The interest payments on the debt. D. Less of an issue if the economy is below full employment since crowding out is less likely to occur.
Which of the following is an accurate statement about external economies of scale?
a. They involve a rise of market prices. b. They involve a reduction of input costs. c. They involve a shift of the MC curve upward. d. They involve a shift of the ATC curves to the right.