Refer to the information provided in Figure 6.1 below to answer the question(s) that follow.
Figure 6.1Refer to Figure 6.1. Assume Tom's budget constraint is AC. If the price of a hot dog is $3, the price of a hamburger is
A. $1.50.
B. $3.
C. $6.
D. $12.
Answer: C
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In the above figure, flow B represents households' ________
A) income B) consumption expenditures C) saving D) investment
Amber's Ambrosia's share of the delicacy market is 10% If the own price elasticity of the aggregate fast food industry is 0.8, what is the own price elasticity of Amber's fast food?
a. 5 b. 6 c. 7 d. 8
According to the concept of comparative advantage, a good should be produced in that nation where:
A. its domestic opportunity cost is greatest. B. money is used as a medium of exchange. C. its domestic opportunity cost is least. D. the terms of trade are maximized.
Results of research conducted regarding the Moving to Opportunity program found that the program had little effect on opening up employment opportunities
Indicate whether the statement is true or false