Refer to Figure 18.2. The opportunity cost of producing spears in Macadamia is
A) 3/4 of a fishing pole. B) 5/6 of a fishing pole.
C) 6/5 fishing poles. D) 4/3 fishing poles.
C
Economics
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Refer to Table 1-3. What is Santiago's marginal cost if he decides to stay open for an extra two hours instead of one hour?
A) $18 B) $36 C) $38 D) $102
Economics
Suppose a change takes place and the new equilibrium is at point A in the above figure. This change could have been caused by
A) an increase in the per-unit tax on CDs. B) a decrease in the income of consumers. C) a reduction in the wages paid to workers in the CD industry. D) a reduction in the price of CD players.
Economics