A nonmonetary opportunity cost is
A) an explicit cost. B) a direct cost. C) an implicit cost. D) an accounting cost.
C
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After researching the effectiveness of child safety seats in reducing the accident death rate of children ages one to four, economist Steven Levitt found that
A) for children under age four, safety seats are safer than any alternative. B) for children under age two, safety seats are safer than any alternative, but beyond age two, they provide no appreciable benefit over standard car seat belts. C) safety seats are actually more dangerous than standard car seat belts for children of any age. D) safety seats provide no appreciable benefit over standard car seat belts for children of any age.
A monopoly produces and sells 300 units of its product for $8 per unit. If the total cost incurred by the monopoly is $1,800, determine its profit or loss
What will be an ideal response?
Based on Scenario 1 above critically evaluate the following statement. "Because of the productivity differential between the two men we can conclude that the young man has a comparative advantage in the production of everything over the older man
What will be an ideal response?
Why are international investors who have invested in developing nations favoring foreign direct investment and portfolio investment over loans?
A) The process of making loans is usually more difficult for investors to do than foreign direct and portfolio investment. B) The interest rate charged on the loans is usually lower than what can be earned in the U.S. C) It is illegal for banks to make loans to foreign firms. D) Investors have an aversion to owning dead capital and want to make sure that the resources they own do not become dead capital.