For each additional lamp produced, a constant opportunity cost is incurred in terms of bookshelves. This means
A) that it takes more resources to produce a lamp than a bookshelf.
B) that it takes fewer resources to produce a lamp than a bookshelf.
C) that for every lamp produced, a constant number of bookshelves is forfeited.
D) that for every lamp produced, a different number of bookshelves is forfeited.
C
You might also like to view...
Market consumer surplus
A) is the area under the demand curve and above market price, up to the quantity actually bought. B) is equal to total market revenue minus cost. C) does not depend on the quantity sold. D) is the area under the market price and above the marginal cost curve.
The extremely high salaries of professional football players taken first in the draft are mostly associated with ___________.
Fill in the blank(s) with the appropriate word(s).
The estimated demand for a good is 
= 25 - 5P + 0.32M + 12PRwhere Q is the quantity demanded of the good, P is the price of the good, M is income, and PR is the price of related good R. This good and the related good R are
A. complements since the coefficient on M is positive. B. substitutes since the coefficient on M is positive. C. substitutes since the coefficient on PR is positive. D. complements since the coefficient on PR is positive.
A monopoly can be losing money in the ____________, but not in the ____________.
A. short run; short run B. long run; long run C. long run; short run D. short run; long run