Alpha can produce either 18 oranges or 9 apples an hour, while Beta can produce either 16 oranges or 4 apples an hour. What are the opportunity costs of producing 1 orange for Alpha and Beta, respectively?
a. 0.25 apples; 0.5 apples
b. 9 apples; 4 apples
c. 0.5 apples; 0.25 apples
d. 2 apples; 4 apples
c. 0.5 apples; 0.25 apples
The opportunity costs of producing 1 orange for Alpha and Beta, respectively, are 0.5 apples; 0.25 apples.
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A) decreases; decreases B) increases; decreases C) increases; increases D) changes; does not change
A lender of last resort is a financial institution that is willing and able to lend to: a. individuals who have other debts outstanding
b. individuals who do not have a positive net worth. c. banks that are not members of the Federal Reserve System. d. fractional reserve system banks experiencing runs on their deposits. e. Federal Reserve System member banks experiencing runs on their deposits.
A pricing strategy below cost is often claimed to be ________, done to drive rivals out of business so that the firm can subsequently raise its price back up to the monopoly level.
A. predatory B. fair C. ethical D. None of the above is correct.
Select the graph above that best shows the change in the market specified in the following situation: In the market for leather coats, when leather coats become more fashionable among young consumers.
Graph A Graph B Graph C Graph D