The Farm Factory, a booth at the local Farmer's Market, sells fresh eggs for $1.50 per dozen and fresh milk for $2.50 per gallon. What is the opportunity cost of buying a gallon of milk?

A) 1 2/3 dozen eggs
B) 3/5 of a dozen eggs
C) $2.50
D) $1.50


Answer: A

Economics

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Answer the following statement true (T) or false (F)

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A decrease in the price level will _____

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Colin consumes both corned beef sandwiches and steak sandwiches. Corned beef is priced at $5.00 per sandwich and steak sandwiches are priced at $8.00 . Which of the following marginal utility pairs is consistent with Colin's consumer equilibrium at these prices?

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Economics