Billie's Billiard Barn has seen its business slow down ever since Patti's Ping Pong Parlour opened up across the street
Since the opening of Patti's Ping Pong Parlour, the opportunity cost of shooting pool at Billie's Billiard Barn has ________ for Billie's customers who also like to play ping pong.
A) not changed. B) decreased. C) fallen to zero. D) increased.
D
You might also like to view...
Which of the following is NOT a fixed-payment loan?
A) mortgage B) car loan C) student loan D) corporate bond
Which effect of a price change moves the consumer along the same indifference curve to a point with a new marginal rate of substitution?
a. the budget effect b. the preference effect c. the substitution effect d. the income effect
The Fed could use reserve requirements as a monetary policy instrument. In terms of desirable features for policy instruments, assess the viability of using reserve requirements.
What will be an ideal response?
Poverty is defined in two ways: the absolute concept of poverty and the relative concept of poverty.
Answer the following statement true (T) or false (F)