Refer to the information provided in Table 2.2 below to answer the following question(s).Table 2.2?MollyPeteAvatar Design68Tattoo Design32Refer to Table 2.2. For Molly, the opportunity cost of designing four tattoos is ________ avatar designs.
A. 6
B. 8
C. 12
D. 24
Answer: B
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Which of the following demonstrates that policymakers cannot know the outcome of their decisions without knowing the public's expectations of them?
A) traditional Keynesian theory B) Post Keynesian theory C) real business cycle theory D) new classical theory
Accountants and Economists differ in their calculations of profits in that the former consider
a. sunk costs b. implicit costs only c. explicit costs only d. fixed costs
An externality is a cost or a benefit that falls on a third party and is ignored by buyers and sellers involved in the market transaction
Indicate whether the statement is true or false
(Consider This) An unprofitable motel will stay open in the short run if:
A. price (average nightly room rate) exceeds average variable cost. B. marginal revenue exceeds marginal cost. C. price (average nightly room rate) exceeds average fixed cost. D. marginal revenue exceeds price.