The ultimate or absolute measure of value in the opportunity cost perspective
A) does not exist.
B) is the labor embodied in goods.
C) is the money price of the goods.
D) is the nonrenewable resources consumed in producing the goods.
A
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If the price of capital falls, _____
a. the supply of capital increases b. the quantity supplied of capital decreases c. the quantity supplied of capital increases d. the quantity supplied of capital remains unchanged e. the supply of capital decreases
The World Trade Organization is a successor organization to the
A) United Nations. B) World Bank. C) International Court of Justice. D) GATT.
Product differentiation always exists in
A) perfect competition. B) monopolistic competition. C) oligopoly. D) monopoly.
Refer to the information provided in Figure 8.3 below to answer the question(s) that follow. 
Figure 8.3
Refer to Figure 8.3. If total fixed costs are $100, then average total cost of producing 10 basketballs is
A. $2. B. $10. C. $13. D. $130.