If a market system is functioning well, we can conclude that goods with

A. high opportunity costs tend to have high money costs.
B. low opportunity costs tend to have high money costs.
C. high opportunity costs tend to have low money costs.
D. low opportunity costs tend to have zero money costs.
E. high opportunity costs tend to have zero money costs.


Answer: A

Economics

You might also like to view...

When a U.S. restaurant purchases French wine and the French wine company uses the proceeds to buy U.S. government debt, U.S. ________ and there is a capital ________ the United States.

A. exports increase; outflow from B. imports increase; inflow to C. imports decrease; inflow to D. imports increase; outflow from

Economics

Use the following graph for a perfectly competitive firm to answer the next question.At its short-run equilibrium point, the firm's

A. marginal revenue equals its average variable cost. B. marginal cost equals its average fixed cost. C. marginal revenue equals its average total cost. D. marginal cost equals its average variable cost.

Economics

The degree of market power exercised by a firm is related to all but

A. The price elasticity of demand for the firm's product. B. The age of the industry. C. Its ability to influence the market price of its output. D. The number and proximity of competing firms.

Economics

Table 9.2 represents 3 markets for used guitars. Which of the markets in Table 14.2 are NOT in equilibrium?

A. 1 only B. 2 only C. 3 only D. 2 and 3

Economics