Why are all costs really "opportunity costs"?
An opportunity cost is what must be given up in order to get something else. Although it is convenient to measure many costs in monetary terms, ultimately all costs (some of which cannot be easily measured in monetary terms) are opportunity costs because there is always something that must be given up in order to get something else.
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At all the points above the midpoint on a linear demand curve, the value of price elasticity of demand is:
A) equal to one. B) zero. C) greater than one. D) less than one.
In the above figure, which part corresponds to an increase in the money wage rate?
A) Figure A B) Figure B C) Figure C D) Figure D
What is the financial capital market?
What will be an ideal response?
If Mario's Pizza and Angelo's Pizza are pizza delivery companies in tacit collusion and Mario's Pizza launches a new advertising campaign that states that it will meet any competitor's price on a comparable pizza, Mario's Pizza might be tacitly signaling to Angelo's Pizza that they are willing to ________.
A) cut price is exactly half B) maintain current the price C) lower their price D) raise their price