In a system of impersonal exchange,
a. bureaucratic ties on the production side are critical
b. the economy benefits from specialization and modern technology
c. inside connections on the consumption side are necessary
d. successful institutional evolution makes no difference
e. there is very little division of labor
B
Economics
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The table above shows a nation's production possibilities frontier. The opportunity cost of a robot between combination D and E is
A) 1/4 of a pizza. B) 34 pizzas. C) 30 pizzas. D) 4 pizzas. E) undefined because neither point is production efficient.
Economics
Refer to the above table. If the price is $3 the maximum profit this firm could earn is
A. -$99. B. -$100. C. $99. D. $306.
Economics