Exhibit 2-2 Production possibilities curve
In Exhibit 2-2, the opportunity cost of coffee when moving from A to B is:
A. the same as moving from A to C.
B. the same as moving from A to D.
C. the same as moving from B to D.
D. the same as moving from B to C.
Answer: D
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Dividend refers to
A. a corporation’s regular payments to lenders. B. a payment of part of the corporation’s profits that are distributed to stockholders. C. a lender’s legal claim on the assets of a bankrupt corporation. D. a prepayment of a corporation’s legal obligation.
According to the graph shown, the market price is:
A. $11 B. $15 C. $9 D. $20
For a married couple, if one partner must enter a nursing home,
A. the assets of the household are split, and Medicaid will pay once the ill partner's assets are gone. B. Medicaid will pay, but will seize all of the assets when the other partner dies. C. Medicaid will pay, no questions asked. D. the assets of both partners must be completely depleted before Medicaid will pay.
Suppose Island Bikes, a profit-maximizing firm, is the only bike rental company in a small resort town. The marginal cost to Island Bikes of renting out a bike is $3, and Island Bikes has no fixed costs. Each day Island Bikes has six potential customers, whose reservations prices are listed below.CustomerReservation Price($/Rental)A22B16C12D8E6F4 If Island Bikes charges a single price to all of its customers, then how many bikes will it rent out each day?
A. 5 B. 4 C. 3 D. 6