What is the opportunity cost of going from point C to point D?
40 cars
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A monopolist will hire fewer workers than a perfectly competitive firm because
A) the marginal product curve decreases as additional units of labor are hired for a monopoly but not for a competitive firm. B) there is a variety of employers in a competitive market and only one in a monopoly. C) marginal revenue is greater than price for a monopoly while marginal revenue is equal to price for a competitive firm. D) to sell an additional unit of the good the competitive firm will keep the price the same while the monopolist must lower it on all units sold.
If the current account has a positive balance of $100 and the capital and financial account has a negative balance of $90, there will be ________ in official reserves of ________
A) a decrease; $10 B) an increase; $10 C) an increase; $190 D) a decrease; $190
Shortage means the same thing as scarcity
Indicate whether the statement is true or false
Aimee sells hand-embroidered dog apparel over the Internet. Her annual revenue is $128,000 per year, the explicit costs of her business are $42,000, and the opportunity costs of her business are $30,000. What are the implicit costs of her business?
A) $12,000 B) $30,000 C) $72,000 D) $86,000