Refer to the accompanying figure. Moving from point C to point B, the opportunity cost of 25 more salads is:
A. 5 pizzas.
B. 30 pizzas.
C. 10 pizzas.
D. 15 pizzas.
Answer: A
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Refer to Table 11.1. What is the equilibrium level of output, y*?
A) 1,775 B) 2,375 C) 7,100 D) 9,500
The five forces model is a framework
a. For increasing buyer force in the market b. For improving competition in the industry c. For analyzing the attractiveness of an industry d. Of matching resources and capabilities of the firm
A group of firms that coordinate their pricing decisions is called:
A. a monopoly. B. a duopoly. C. a cartel. D. monopolistic competition.
During periods of rapid inflation, money may cease to work as a medium of exchange:
A. unless it has been designated legal tender. B. unless it is backed by gold. C. because it is too scarce for everyone to have enough for transactions. D. because people and businesses will not want to accept it in transactions.