?Hair Pins /hourBandanas /hourNigel410Mia93
Consider two individuals, Nigel and Mia, who produce hair pins and bandanas. Nigel's and Mia's hourly productivity are shown in Table 3.3. Mia's opportunity cost of producing one hair pin is:
A. 1/3 of a bandana.
B. 2.5 bandanas.
C. 3 bandanas.
D. 10 bandanas.
Answer: A
You might also like to view...
A tax whose impact varies inversely with the income of the person taxed, that is, poor people pay a higher percent of their income than do rich people, is known as a
a. regressive tax b. progressive tax c. proportional tax d. flat tax e. an excise tax
The Human Genome Project is a useful example of
a. private sector research and development. b. government-conducted research. c. household research. d. a and b.
Based upon the equation of exchange, which of the following (ceteris paribus) is most likely to bring about inflation?
A) An increase in the money supply. B) A decrease in velocity. C) An increase in Real GDP. D) a and b E) a and c
According to the figure shown, if Adidas charges a low price, then Nike should:
A. leave the market. B. charge a low price. C. charge a high price. D. give an ultimatum.