A student ranks 4 candy bars in the following order: 1) Twix, 2) Snickers, 3) Milky Way, and 4) Almond Joy. Given the choice of one candy bar the student picks a Twix bar. What is the opportunity cost of that choice?
A. The money that was spent on the candy bar
B. Snickers
C. Almond Joy
D. Snickers, Milky Way, and Almond Joy
Answer: B
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The greater the differentiation among the products of monopolistically competitive firms, the lesser is the price-elasticity of demand
a. True b. False Indicate whether the statement is true or false
If a firm sells to two distinct identifiable markets and resale is impossible, why is price discrimination more profitable than setting a single price?
What will be an ideal response?
A change in the marginal propensity to save can be graphically represented by:
a. a movement along the investment function. b. a movement along the saving function. c. a parallel shift of the consumption function. d. a parallel shift of the saving function. e. a change in the slope of the saving function.
A rise in autonomous planned investment spending causes the equilibrium level of aggregate output to ________ and shifts the ________ curve to the ________, everything else held constant
A) rise; LM; right B) rise; IS; right C) fall; IS; left D) fall; LM; left