You like to sleep until 11:00 am during the semester. What is the opportunity cost of attending an 8:00 am class?
A) nothing, since you can go back to bed later
B) sleep
C) obtaining the notes from the 8:00 am class
D) the money you spend on coffee to stay awake
B
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In the above figure, at a price of $4 per unit, a profit-maximizing perfectly competitive firm will
A) shut down because its total revenue is less than its variable costs. B) incur an economic loss. C) produce 5 units. D) Both answers A and B are correct.
The key difference between monopolistic competition and perfect competition is that in monopolistic competition the tangency of
A. AC and the demand curve occurs along the negatively sloped part of AC. B. the demand curve and AC occurs at the minimum point of the AC curve. C. AC and the demand curve occurs along the positively sloped part of AC. D. MC and MR at the optimum output.
Which of the following terms is used to describe payments made by foreign resident workers to families in their home nations or in the form of taxes paid to their home nations?
a. worker redistribution b. worker earnings c. worker remittances d. worker repayments
As a result of war many of the factories in country 1 are destroyed and many of its people are killed. As a result, the country's
What will be an ideal response?