You decide to go to LEGOLAND after you visit Disneyworld in Orlando. The cost of going to LEGOLAND after you visit Disneyworld is the ________ cost of getting from Disneyworld to LEGOLAND.
A. efficiency
B. opportunity
C. profit maximizing
D. marginal time and money
Answer: D
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When the U.S. Treasury sells bonds to the public to finance government spending and then the Fed buys the bonds through open-market purchases, the Fed is
a. monetizing the debt. b. decreasing the money supply. c. decreasing bank reserves. d. increasing the difficulty of raising funds for government spending.
In long-run equilibrium, the perfectly competitive firm sets its price equal to which of the following?
a. Short-run marginal cost. b. Long-run average cost. c. All of the answers are correct. d. Short-run average total cost.
Tariffs can be thought of as indirect:
A. subsidies to domestic producers. B. subsidies to foreign producers. C. special taxes on domestic producers. D. subsidies to domestic consumers.
Refer to the information provided in Figure 13.10 below to answer the question(s) that follow. Figure 13.10 Refer to Figure 13.10. The monopoly profit-maximizing number of subscribers and price are ________ and ________, respectively.
A. 1,000; $16. B. 2,200 $13. C. 2,500; $12. D. 800; $15.