Refer to Table 2-4. Assume Dina's Diner only produces sliders and hot wings. A combination of 40 sliders and 50 hot wings would appear
A) along Dina's production possibilities frontier.
B) inside Dina's production possibilities frontier.
C) outside Dina's production possibilities frontier.
D) at the vertical intercept of Dina's production possibilities frontier.
A
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Use the following figure to answer the question below.
Jorge's opportunity cost of producing 1 pound of corn is ________ pound(s) of green beans.
A. 2 B. 4 C. 1 D. 1/4
The ratio of the dollar price of a toy in the U.S. to the dollar price of a toy in China represents the ________ between the two currencies
A) nominal exchange rate B) ordinal exchange rate C) expected exchange rate D) real exchange rate
Many people buy fire insurance when they are not required to do so. What does this tell you about their risk preferences?
What will be an ideal response?
Which of the following observations is true?
A. In the long run, more costs become variable. B. Fixed costs cannot be completely varied if the time period is sufficiently long. C. Fixed costs arise when some types of inputs can be bought only in big batches. D. Variable costs arise when inputs have a large productive capacity.