Ziva is an organic lettuce farmer, but she also spends part of her day as a professional organizing consultant. As a consultant, Ziva helps people organize their houses. Due to the popularity of her home-organization services, Farmer Ziva has more clients requesting her services than she has time to help if she maintains her farming business. Farmer Ziva charges $25 an hour for her
home-organization services. One spring day, Ziva spends 10 hours in her fields planting $130 worth of seeds on her farm. She expects that the seeds she planted will yield $300 worth of lettuce. What is the total opportunity cost of the day that Farmer Ziva spent in the field planting lettuce?
a. $130
b. $250
c. $300
d. $380
d
You might also like to view...
If the price of Pepsi increases, then there will be ___ of Pepsi.
a. An increase in the quantity demanded b. a decrease in the quantity demanded c. a decrease in the demand d. an increase in the demand
In the late 2000s, which of the following was the primary source of external financing for small to medium-size firms?
A) mortgages B) bank loans other than mortgages C) trade credit D) other loans
The time period between when economic conditions change and when policy makers are aware of the change is called the
a. index of leading indicators. b. administrative lag. c. recognition lag. d. impact lag.
If all taxpayers pay the same percentage of income in taxes, the tax system is proportional
a. True b. False Indicate whether the statement is true or false