In the figure above, Jill is producing at point A. Jill's opportunity cost producing one pair of pants is
A) 2 shirts per pair of pants.
B) 3 shirts per pair of pants.
C) 3/5 of a shirt per pair of pants.
D) 5/3 of a shirt per pair of pants.
A
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Under perfect capital mobility and flexible exchange rates, monetary policy works through the
a. interest rate. b. exchange rate. c. exports. d. Both b and c e. None of the above
The above figure shows the demand curve for crude oil. The demand curve has unitary price elasticity when price equals
A) $0. B) $1. C) $10. D) $20.
Utility is:
A. useful in comparing the relative satisfaction different consumers get from a particular good. B. useful in predicting when to put an item on sale. C. useful in quantitatively describing a person's preferences for one good over another. D. an interesting concept, but not really useful for anything.
A horizontal demand curve indicates perfectly elastic demand
a. True b. False Indicate whether the statement is true or false