If you must make a choice about consuming two apples, three oranges, or one candy bar, the opportunity cost of the candy bar is:
a. two apples.
b. three oranges.
c. two apples and three oranges.
d. two apples or three oranges, whichever you prefer more.
e. equal to the difference in the prices of the three options.
d
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__________________ is attained when the maximum possible output of any one good is produced, given the output of other goods.
A. Productive efficiency B. Economic growth C. Opportunity cost D. Employment discrimination
Suppose Sarah owns a small company that makes wedding cakes. The table below shows how Sarah's total cost varies depending on the number of wedding cakes she makes each day.Number ofCakes Per DayTotal CostPer Day0$1001$1802$2203$3004$4005$5206$660Sarah's fixed cost is ________ per day.
A. $20 B. $200 C. $100 D. $10
Assume that tortilla chips and salsa are complements. When the price of tortilla chips decreases
A) the demand for salsa decreases. B) the supply of salsa decreases. C) the demand for salsa increases. D) the demand for tortilla chips decreases.
If government policy makers become more secretive, then the short run aggregate supply curve should get
a. flatter. b. more horizontal. c. vertical. d. steeper.