Dent 'n' Scratch Used Cars and Trucks employs 3 salesmen. Data for their sales last month are shown in this table: Cars Sold Trucks SoldLarry105Joe99Ralph312Based on last month's data, Joe's opportunity cost of selling a truck is selling:
A. 4 cars.
B. 1 car.
C. 9 cars.
D. 1/3 of a car.
Answer: B
You might also like to view...
No distinction is made between the effects of anticipated and unanticipated policy in ________
A) traditional Keynesian theory B) new Keynesian theory C) real business cycle theory D) traditional Keynesian and real business cycle theory
The situation in which the marginal product of labor is greater than zero and declining as more labor is hired is called the law of: a. negative response
b. inverse return to labor. c. diminishing returns. d. demand.
Which of the following increases when the Fed makes open-market sales?
a. currency and reserves b. currency but not reserves c. reserves but not currency d. neither currency nor reserves
The Least Absolute Deviations (LAD) estimators in a linear model minimize the sum of squared residuals.
Answer the following statement true (T) or false (F)