The opportunity cost of something is the nominal price paid for the product.
Answer the following statement true (T) or false (F)
False
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If the reciprocal of the slope of a demand curve is calculated, this value is equal to the price elasticity of demand for that good.
Answer the following statement true (T) or false (F)
On a big weekend of college football in 2010, the Associated Press found fans… who said they are making concessions yet determined to indulge their passion
"We basically let the wife and children not eat for a week so we can do this," joked Neil Plotkin, who was attending his first Penn State game. If Neil's marginal rate of substitution between weeks of food and his first Penn State game is 1, what do you predict the marginal rate of substitution between food and subsequent Penn State games is for Neil? A) less than one B) greater than one C) equal to one D) cannot determine without knowing Neil's income
If there is public dissaving, investment spending in the economy will decline, holding everything else constant
Indicate whether the statement is true or false
All the countries of the EU participate in the Schengen Agreement
Indicate whether the statement is true or false