Assume that Spain will either specialize in producing cars or TVs. What is their opportunity cost of producing 8 TVs?
1 car
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In the above figure, if the market is competitive and unregulated
A) more than the efficient amount of output will be produced. B) less than the efficient amount of output will be produced. C) the efficient amount of output will be produced. D) the distribution of income will be fair.
The money supply is ________ related to expected deposit outflows, and is ________ related to the market interest rate
A) negatively; negatively B) negatively; positively C) positively; negatively D) positively; positively
Explain why procurement is such a problematic area for the military
What issues somewhat unique to the military make it necessary to utilize a variety of different procurement contract in order to attempt to get the correct output delivered at the lowest possible price? List four general types of procurement contracts.
Refer to the above table. The table represents information on the costs for Ajax Corporation. Ajax operates in a perfectly competitive market and the price of the product is $9. What does profit equal when quantity equals 3?
A) $13 B) $10 C) $6 D) $2