Refer to Table 2-11. What is China's opportunity cost of producing one pound of wheat?
A) 0.04 units of a digital camera B) 4 digital cameras
C) 25 digital cameras D) 40 digital cameras
A
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Use the following figure to answer the next question. 
Total fixed cost at output level Q2 is measured by the vertical distance
A. 0C. B. DE. C. AD. D. CD.
If the Fed wants to maintain current interest rates, it would be buying government bonds in the open market when ________.
A. investment demand decreases B. the demand for money increases C. the demand for money decreases D. investment demand increases
What is Say's law and what does it mean?
What will be an ideal response?
Kate and Alice are small-town ready-mix concrete duopolists. The market demand function is Qd = 20,000 - 200P where P is the price of a cubic yard of concrete and Qd is the number of cubic yards demanded per year. Marginal cost is $80 per cubic yard. Suppose Kate enters the market first and chooses her output before Alice. What is the difference in Alice's profit when Kate enters the market first, compared to when they simultaneously select their outputs?
A. When Kate enters the market first, Alice's profit is $13,333.33 lower. B. When Kate enters the market first, Alice's profit is $5,000 lower. C. When Kate enters the market first, Alice's profit is $1,111.11 higher. D. When Kate enters the market first, Alice's profit is $3,888.89 lower.