Refer to Table 2-4. What is the opportunity cost to Picnicland of increasing the production of hotdogs from 450 to 900?

a. 150 burgers
b. 225 burgers
c. 300 burgers
d. 450 burgers


b. 225 burgers

Economics

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When firms in an industry produce differentiated products,

a. long-run economic profit will always be zero b. short-run economic profit will always be positive c. the demand curves facing firms will always be perfectly elastic d. the demand curves facing firms will always be downward-sloping e. new firms will always have an incentive to enter the industry in the long run

Economics

The term cross-price refers to the idea that:

a. the price of one good is affecting the quantity demanded of a different good. b. the demand of one good is affecting the quantity demanded of a different good. c. the price of one good is affecting the quantity supplied of a different good. d. the supply of one good is affecting the quantity demanded of a different good.

Economics

To find the Real interest Rate

What will be an ideal response?

Economics