Daily Output of Russia and Panama?RussiaPanamaGloves 40240Hats120180
Refer to Table 18.1. The opportunity cost of a glove in Panama is:
A. 1/8 of a hat.
B. 3/4 of a hat.
C. 4/3 hats.
D. 8 hats.
Answer: B
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Indicate whether the statement is true or false
What are the major characteristics of pure monopoly?
What will be an ideal response?
An inward shift of the production possibilities frontier represents
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