Consider budget constraints A and B in the graph shown. The slope of A compared to the slope of B:
A. is steeper, showing that movie tickets are relatively more expensive in line A.
B. is flatter, showing that books are relatively less expensive in line A.
C. shows that the opportunity cost of books is smaller in line A.
D. shows that the opportunity cost of books is greater in line A.
D. shows that the opportunity cost of books is greater in line A.
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What is accounting profit?
A) gross revenue minus explicit and implicit costs B) the same as economic profit C) gross revenue minus implicit costs D) gross revenue minus explicit costs
What are the main characteristics that make it more likely for a cartel to enforce agreements among participating members?
What will be an ideal response?
As long as there are fixed resources, diminishing marginal returns will never exist
a. True b. False Indicate whether the statement is true or false
When a U.S. citizen invests in foreign assets, the transaction is recorded in the balance of payments as a
a. credit in financial account. b. debit in the financial account. c. credit in the current account. d. debit in the current account.