The opportunity cost of playing tennis with your friend is:
A.) Negative since its good exercise.
B.) Zero since you already own the tennis racket and play on a public court.
C.) The next-best alternative use of your time that is forgone.
D.) The cost of the tennis lessons you took last year.
C.) The next-best alternative use of your time that is forgone.
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Modern portfolio analysis assumes that individuals
A) are risk-averse. B) attempt to maximize liquidity. C) attempt to maximize returns regardless of risk. D) never take risks.
If countries have similar factors of production and similar productivities, most of their trade is likely to be intraindustry
Indicate whether the statement is true or false
Average fixed cost can be calculated using any of the formulas below except
A) TFC/Q. B) (TC - VC)/Q. C) ?(TC - VC)/?Q. D) (TC/Q) - AVC.
The cost of education, professional athletes’ pay, and medical services rise faster than the rate of goods and services because their average productivity has remained the same.
Answer the following statement true (T) or false (F)