Julia can fix a meal in 1 hour, and her opportunity cost of one hour is $50 . Jacque can fix the same kind of meal in 2 hours, and his opportunity cost of one hour is $20 . Will both Julia and Jacque be better off if she pays him $45 per meal to fix her meals? Explain
Since Julia's opportunity cost of preparing a meal is $50, and Jacque's opportunity cost of preparing a meal is $40, each of them will be better off by $5 per meal if this arrangement is made.
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The above figure shows the competitive market for turkey. The consumer surplus for the 300 millionth pound of turkey is
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Explain why firms' short-run marginal cost curves often initially decreases and then increases
What will be an ideal response?
The relationship between unemployment and inflation is
A) nonexistent. B) positive. C) negative. D) None of the above.
Government policies that encourage savings
A) reduce interest rates. B) increase interest rates. C) have no effect on interest rates. D) lower the net present value of all investments.