Jeff's entertainment budget is divided between $8 movie tickets and $40 hockey tickets. The opportunity cost to Jeff of going to an extra hockey game is
A. four fewer $10 pizzas.
B. five movies.
C. 20 DVD rentals (costing $2 each).
D. all of the choices are true.
B. five movies.
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Can real standards of living go up without any positive economic growth?
Which of the following would cause a decrease in the supply of milk?
A) an increase the price of a product that producers sell instead of milk B) an increase in the price of cookies (assuming that milk and cookies are complements) C) an increase in the number of firms that produce milk D) a decrease in the price of milk
Refer to Scenario 14.4. Suppose that the price of the product rises to $5, the price of labor
A) will decrease. B) will increase. C) will not change. D) will change in an indeterminate fashion.
A less developed country can increase its capital stock by
a. raising taxes on purchases of capital goods b. temporarily accepting unusually high unemployment rates c. reducing government spending d. shifting resources away from production of consumer goods and toward production of capital goods e. providing more opportunities for individuals to spend their accumulated savings