Refer to Exhibit 2-1. The opportunity cost of moving from point A to B is
 ANSWER 6.png)
20,000 units of guns.
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The demographic bulge that is at the heart of Social Security's long-term problems is attributable to a baby boom that occurred
A. after World War II. B. after World War I. C. in the 1980s. D. in the 1960s.
Refer to Table 1-6. Using marginal analysis, how many hours should Ivan extend his hours of operations?
A) 2 hours B) 3 hours C) 4 hours D) 5 hours E) 6 hours
When prices drop in response to a decline in demand for an increasing cost industry
a. producer surplus will increase but rents may decrease. b. rent earned by elastically supplied inputs will decline by more than rent earned by inelastically supplied inputs. c. rent earned by elastically supplied inputs will decline by less than rent earned by inelastically supplied inputs. d. both producer surplus and rents will increase.
Nick owns a dog whose barking annoys his neighbor Jane. Suppose that the benefit of owning the dog is worth $500 to Nick, and that Jane bears a cost of $700 from the barking. Assume that the city has no ordinance against barking dogs. A possible private solution that would benefit both parties is for: a. Jane to pay Nick $450 to get rid of the dog
b. Nick to pay Jane $650 for her inconvenience. c. Jane to pay Nick $650 to get rid of the dog. d. There is no private solution that would improve this situation for both parties.