For a borrower in a (c,c') graph, the optimal consumption bundle is
A) to the left of the endowment point.
B) to the right of the endowment point.
C) on the endowment point.
D) dependent on other factors.
B
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How do firms incorporate opportunity costs to calculate economic costs? Discuss and give example using an explicit economic cost and an implicit economic cost
Please provide the best answer for the statement.
Economists use the term ________ to refer to the creation of new capital.
A. finance B. entrepreneurship C. investment D. depreciation
Monopolistically competitive firms use product differentiation to
A. limit the number of firms in the industry. B. block other firms from entering the industry. C. achieve market power. D. ensure long-run profits.
Refer to the information provided in Figure 7.6 below to answer the question(s) that follow. 
Figure 7.6Refer to Figure 7.6. If the price of capital is $20 and the price of labor is $10, the optimal product technique is
A. A. B. B. C. C. D. D.