The slope of a producer's production possibilities frontier represents the producer's
A) sunk costs of production.
B) average costs of production.
C) marginal costs of production.
D) total costs of production.
C
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Monetarists argue that the Federal Reserve should allow the money supply to grow:
a. counter to the business cycles. b. faster than 10 percent annually. c. only during recessions. d. at a constant rate.
Consider Noah's decision to go to college. If he goes to college, he will spend $80,000 on tuition, $15,000 on room and board, and $4,000 on books. If he does not go to college, he will earn $22,000 working in a store and he will spend $13,000 on room and board. Noah's cost of going to college is
a. $99,000. b. $103,000. c. $108,000. d. $121,000.
The amount of money that can potentially be generated from each dollar of reserves is measured by the ______.
a. money multiplier b. discount rate c. interest rate d. required reserve ratio
An industry with a Herfindahl-Hirschman index of 10,000 would have no more than ______ firm(s).
A. 1 B. 2 C. 5 D. 100