Refer to the accompanying figure. The opportunity cost of producing one bushel of corn is:
A. ½ of a bushel of wheat.
B. 500 bushels of wheat.
C. 250 bushels of wheat.
D. 2 bushels of wheat.
Answer: D
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Your 65-year-old father is going to retire next year. He would like to have an income of $20,000 per year for the remainder of his life
If he is expected to live for ten more years, write an algebraic expression to indicate the amount of money he needs today to pay him this sum of money if the interest rate is 10 percent.
Suppose you're looking for a new living room sofa and discover that the local store is running a Presidents' Day sale. You are delighted because if you end up buying the sofa, the sale will
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Games that don't have a dominant strategy:
A. don't exist; all games have at least one dominant strategy. B. may have stable equilibrium outcomes. C. always have stable equilibrium outcomes. D. do not have stable equilibrium outcomes.