The figure above shows Freda's PPF. Freda currently produces 10 packets of fudge and no cookies. If Freda decides to produce 1 packet of cookies, her opportunity cost of the packet of cookies is ________ of fudge
A) 1 packet
B) 1/2 packet
C) 2 packets
D) 0 packets
C
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Suppose you're willing to tutor a student for $10 an hour. The student pays you $15 an hour. What is your producer surplus?
A) $5 an hour B) $10 an hour C) $15 an hour D) $25 an hour E) More than $25 an hour
The aggregate demand curve is all of the equilibrium combinations of
A) the IS curve and the MP curve. B) the output gap and the price level. C) the price level and the real interest rate. D) the real interest rate and the output gap.
If there is an increase in demand for a good,
a. there will be an increase in demand for the inputs that produce it. b. there will be a decrease in demand for the inputs that produce it. c. there will be an increase in supply of the inputs that produce it. d. there will be a decrease in supply of the inputs that produce it.
Champlain College in Vermont runs a satellite campus in Dublin, Ireland. This is an example of:
A. foreign portfolio investment. B. exporting. C. importing. D. foreign direct investment.