Jack and Jill both decide to go to a movie with free tickets. We know that
A. the cost of going to the movie is greater for the one who had more choices to do other things.
B. neither bears an opportunity cost because the tickets were free.
C. both bear the same opportunity cost since they are doing the same thing.
D. both bear an opportunity cost since they could have done other things instead of watching a movie
Answer: D
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Which of the following will cause an increase market supply?
A. An increase in the price of the good. B. An increase in demand for the good. C. A technological innovation that lowers the marginal cost of producing the good. D. A decrease in the number of firms in the market.
Banks prefer __________ hold excess reserves because __________
A) not to; excess reserves earn no interest B) not to; banks are not required to hold them C) to; excess reserves earn interest D) to; banks need them to prevent runs
Suppose Lily's indifference curves are defined as U = ?FS + ?FH, where FS is consumption during sunny weather and FH is consumption during a hurricane. Lily receives 64 units of food when it is sunny and 16 units of food when there is a hurricane. If the probability of sunshine is ? = 0.5, the expected consumption is:
A. 52 B. 28 C. 40 D. 5
The largest quota subscriber of the International Monetary Fund (IMF) is
A. Germany. B. China. C. Japan. D. the United States.