The average food stamp payment in 2010 was?
A. $150
B. $435
C. $0
D. $287
D. $287
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When economists state that the opportunity cost of a product increases as more of it is produced, what do they mean? What is the opportunity cost?
What will be an ideal response?
The term "capital," as used in macroeconomics, refers to
A) the plant, equipment, buildings, and inventories of raw materials and semi-finished goods. B) financial wealth. C) the sum of investment and government purchases of goods. D) investment.
A firm has reached its shutdown point when price is equal to minimum average total cost
Indicate whether the statement is true or false
The expression "getting the most bang for your buck" is an illustration of the
A) total utility/price ratio. B) total utility/marginal utility ratio. C) marginal utility/price ratio. D) marginal utility/total utility ratio.