Justin and Maria work at a restaurant. Justin can make either 10 pancakes or 4 waffles; Maria can make either 8 pancakes or 2 waffles. According to this scenario, the opportunity cost of making one waffle for Maria is
A. 1/4 pancake.
B. 4 pancakes.
C. 2/5 pancake.
D. 2 1/2 pancakes.
Answer: B
You might also like to view...
Refer to Figure 17-2. Suppose the economy is at point A in the figure above. Which of the following is true?
A) The long-run Phillips curve will shift to the right. B) The short-run Phillips curve will shift to the right. C) The short-run Phillips curve will shift to the left. D) The long-run Phillips curve will shift to the left. E) Actual inflation and expected inflation are the same.
When the demand and the supply for bread increases simultaneously, will we able determine their effects on the equilibrium quantity?
What will be an ideal response?
There will be short-run pressure on the price to rise whenever
A. P>ATC.
B. P
Assume that each day ten thousand children watch Sesame Street on public television and that watching Sesame Street generates a benefit of $100 per child per year. Once a year, public television holds a pledge drive asking viewers to make voluntary contributions in order to keep the programming available to everyone. Suppose each parent has just one child who watches Sesame Street. Each parent has a private incentive to contribute ________ during the pledge drive.
A. $10,000 B. $0 C. $100 D. $1,000,000