If the market interest rate equals 8 percent, the opportunity cost of the last new investment project undertaken would approximately be equal to _____
a. zero percent
b. 4 percent
c. infinity
d. 8 percent
e. 16 percent
d
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Differentiate between a change in quantity demanded and a change in demand
Which of the following provides the best explanation for diseconomies of scale?
a. the firm is too small to take advantage of specialization. b. large management structures may be bureaucratic and inefficient. c. if there are too many employees, the work place becomes crowded and people become less productive. d. average fixed costs are rising.
If a product such as cement or bricks is costly to ship and, therefore, markets are very localized, the national concentration ratio for that industry:
A. will be greater than 50 percent. B. may understate the degree of monopoly. C. may overstate the degree of monopoly. D. will yield an accurate impression of the degree of monopoly.
Use diminishing marginal utility to explain why millionaires often do not have many homes, even if they can afford it
Please provide the best answer for the statement.