What is the opportunity cost of going from point C to point D?
40 cars
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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
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.