A 25% import tariff on imported cheese is referred to as

Refer to Table 2-18. What is Mickey's opportunity cost of making an umbrella?

A) 1/5 of a hat B) 5 hats C) 10 hats D) 50 hats

When buying a car from a dealership, to get the best bargain

a. Never stick to the first offer you make b. Allow room for bargaining c. Threaten to walk out if the dealer does not accept your offer d. Quote your highest willingness to pay