Assume that an individual spends his income on sweaters and shirts. If the price of a sweater increases:
A) the opportunity cost of buying sweaters increases.
B) the opportunity cost of buying sweaters decreases.
C) the opportunity cost of buying shirts increases.
D) There is no change in the opportunity cost of consuming either good.
A
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Refer to the above table. The table gives the combinations of real disposable income and real consumption for a college student for a year. What is the value of the average propensity to save equal when real disposable income equals $14,000?
A) 1.1 B) 0.91 C) 0.09 D) 0.7
Under which type of market structure is the firm’s pricing decision the most difficult?
a. perfect competition b. monopoly c. monopolistic competition d. oligopoly
The supply of Russian rubles to the foreign exchange market derives from
a. surplus rubles created by a favorable balance of trade in Russia b. foreigners who exchange their currencies so they can buy French Russian goods c. foreign firms that invest in Russia d. the excess reserves in Russia held by foreign governments e. Russian people who exchange rubles for other currencies so that they can buy other countries' goods
In the derivation of TFC, you find
A. the minimum-slope ray out of the origin to the TVC. B. the vertical intercept of the TC and draw a horizontal line. C. the minimum-slope ray out of the origin to the TC. D. the minimum-slope ray out of the origin to the ATC.