Using all available resources, if a farmer can produce either 65 cantaloupes or 70 watermelons, what is the opportunity cost of one cantaloupe to the farmer?
Answer: 1.08 watermelons
Economics
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Refer to Figure 15-2. The firm's profit-maximizing price is
A) P1. B) P2. C) P3. D) P4.
Economics
Absolute advantage is the ability of a country to produce a good with ________ than another country
a. a lower opportunity cost b. a higher opportunity cost c. fewer resources d. more resources
Economics
The first sale to the general public of stock in a corporation is referred to as
A. A public bond offering. B. An initial public offering. C. A public stock auction. D. An original public sale.
Economics
Which of the following is a preferential agreement?
A) the Trans-Pacific Partnership (TPP) B) the Transatlantic Trade and Investment Partnership (TTIP) C) the Caribbean Basin Initiative (CBI) D) the Asia-Pacific Economic Cooperation (APEC)
Economics