According to the above table, the opportunity cost of each additional computer in terms of televisions
A) remains constant.
B) falls as more computers are produced.
C) increases as more computers are produced.
D) is meaningless because the cost of computers cannot be expressed in terms of televisions.
C
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Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in producer surplus is
A) 25. B) 5. C) 12.5. D) 20.
Loans are: a. assets of banks, liabilities of borrowers. b. liabilities of banks, assets of borrowers. c. assets of banks and their borrowers
d. liabilities of banks and their borrowers.
Compared to ideal economic efficiency, when the production of a good generates external costs, competitive markets will result in an output that is too:
A. large and a price that is too high. B. large and a price that is too low. C. small and a price that is too high. D. small and a price that is too low.
Innovation is another word for invention.
Answer the following statement true (T) or false (F)