If opportunity costs are ________, the production possibilities frontier would be graphed as a negatively sloped straight line
A) increasing B) constant C) decreasing D) negative
B
You might also like to view...
Full-employment GDP is also known as
A) balanced-budget GDP. B) politico-economic GDP. C) potential GDP. D) realized GDP.
Which of the following could not cause an increase in both the equilibrium price and quantity of a good exchanged? a. Increased input prices
b. Decreased incomes for an inferior good. c. An increase in the price of a substitute good. d. Increased tastes for the good.
The market demand for a monopoly firm is estimated to be:Qd = 100,000 - 500P + 2M + 500PRwhere Qd is quantity demanded, P is price, M is income, and PR is the price of a related good. The manager has forecasted the values of M and PR will be $50,000 and $20, respectively, in 2016. The average variable cost function is estimated to beAVC = 520 - 0.03Q + 0.000001Q2Total fixed cost in 2016 is expected to be $4 million. The profit-maximizing price for 2016 is
A. $100. B. $260. C. $520. D. $80. E. $560.
It is difficult to engage in long-term financial planning when inflation is:
A. accounted for through indexing. B. low and stable. C. predictable. D. high and erratic.