In the above figure, the opportunity cost of moving from producing 75 guitars and 25 ukuleles to producing 25 guitars and 75 ukuleles is
A. 25 guitars.
B. 25 ukuleles.
C. 75 ukuleles.
D. 50 guitars.
Answer: D
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Medicaid is the Federal Government program that provides health insurance to the
A. elderly. B. injured. C. handicapped. D. poor.
The dollar price of a good relative to the average dollar price of all other goods and services is the good's:
A. nominal price B. equilibrium price C. market price D. real price
Accounting profits can tell a business _______________________, and economic profits can tell a business ______________________.
A. if it is making money with this venture; if it can make more money with a different venture B. if it can make more money with a different venture; if it is making money with this venture C. if it is a profitable business; if it can be any more profitable D. if it can be any more profitable; if it is profitable
today the futures price for corn for december delivery in chicago is $3.30/bu and yesterday it was $3.40/bu. today the local cash price is $3.05/bu/ today, the local basis is:
a) $0.35/bu b) -$.035/bu c) $0.25/bu d) -$0.25/bu e) not enough information is provided