The opportunity cost of owning a car is
A. the price of the car.
B. filling the tank twice a week.
C. the cost of getting your car inspected once a year.
D. the vacation to Hawaii you had to give up in order to make your car payments.
D. the vacation to Hawaii you had to give up in order to make your car payments.
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Pennsylvania's largest grower of fresh-to-market tomatoes announced in March 2009 he will no longer produce the crop. The acreage he previously devoted to tomatoes and pumpkins will be converted to field corn that is harvested by machines
Of the following, which could have led to the shift from labor intensive tomato production to field corn? A) The market price of tomatoes increased. B) Farm workers' reservation wage fell. C) The wage rate for farm workers increased. D) All of the answers are true.
Airline deregulation led to the demise of many smaller airlines but large carriers were not materially affected
a. True b. False Indicate whether the statement is true or false
The income consumption curve
A. is always a straight line. B. is the same as the Engle curve. C. always goes through the origin. D. has income on the vertical axis.
Refer to the graph below. It shows the total product (TP) curve. At which point is the marginal product zero?
A. Point a
B. Point b
C. Point c
D. Point d