The opportunity cost of producing one additional truck is
A. the profit that could have been earned from selling that truck.
B. the amount of other goods that could not be produced because productive resources were used instead to produce that truck.
C. the price of the truck.
D. all of the choices are true.
B. the amount of other goods that could not be produced because productive resources were used instead to produce that truck.
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In recession years, ________ jobs are lost than created, and vacancies and job openings ________
A) more; increase B) more; decline C) fewer; decline D) fewer; increase
Tacos in a Box sells its hard shell tacos, taco seasoning, and taco sauce as a package and does not sell the individual products separately. This is an example of ________.
A) pure bundling B) mixed bundling C) an all-or-nothing offer D) two-part pricing
The real interest rate on a loan
a. is the amount that the consumer agrees to pay b. is always the same as the nominal rate c. is always greater than the nominal rate d. is only of concern when serious inflation occurs e. is the percentage increase in the lender's purchasing power that results from making the loan
Which of the following is a characteristic of a more efficient tax system?
a. The system minimizes deadweight loss. b. The system raises the same amount of revenue at a lower cost. c. The system minimizes administrative burdens. d. All of the above are correct.