Hutch Technology makes computer monitors, which sell for $100 each. What is the opportunity cost of 10 monitors?
A. $1,000
B. The other goods that could be produced with the resources that produce the 10 monitors
C. The profits that Hutch earns when 10 monitors are sold
D. The lost profits that Hutch if the monitors are not produced
E. All of the responses are correct.
Answer: B
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A. exports imports. B. imports exports. C. exports+ imports. D. (exports +imports) tariffs.
To maintain a fixed exchange rate, a central bank
a. must buy up any excess supply of its currency at that rate b. must buy up any excess demand for its currency at that rate c. must maintain a fixed money supply d. must also maintain a fixed interest rate target e. should "buy low and sell high"
Which of the following is an essential component of the ladder of opportunity?
a. Effective education system b. Safety net policies and programs c. Consistent redistribution efforts d. High social rates of return
A rightward shift in the demand curve for tennis balls could be caused by
A) a fall in the price of tennis balls. B) a fall in the price of tennis rackets. C) a rise in the price of tennis lessons. D) a fall in income, assuming tennis balls are a normal good.