In economics
A) costs are seen as all the previous opportunities
B) costs are seen as the next best opportunity
C) are measured in monetary units only.
D) costs are only fixed.
B
You might also like to view...
When an effective minimum wage is introduced, the number of hours of labor employed is determined by the ____ and the _____.
Fill in the blank(s) with the appropriate word(s).
Figure 17-13 In , if the world price of a baseball is $3 and a tariff of $1 per baseball is imposed in the United States, how many baseballs will the United States import?
a.
4,000
b.
6,000
c.
8,000
d.
10,000
e.
12,000
Which of the following is an example of an intermediate good?
A. A metal-stamping machine used to produce cars sold to an automaker B. A new mobile phone sold to a teenager C. A new car sold to a family D. A new speaker system sold to an automaker for installation in a car
Refer to the data. If this demand schedule were graphed, we would find that:
Answer the question on the basis of the following demand schedule:
A. its slope diminishes as we move southeast down the curve.
B. its slope diminishes as we move northwest up the curve.
C. its slope is constant throughout.
D. the data are inconsistent with the law of demand.