A pair of shoes manufactured in Milan, Italy cost 195 euros. What is the dollar value of the shoes if the exchange rate is $0.89 per euro?

A single supplier of a good or service for which there is no close substitute is referred to as a(n)

A) strategic competitor. B) monopoly. C) oligopoly. D) monopolistic competitor.

Table 3-2 Combination Cotton Corn A 12 16 B 17 15 C 21 13 D 23 9 E 24 5 ? The concept of opportunity cost can be represented graphically by the

A. area inside the production possibilities frontier. B. slope of the production possibilities frontier. C. vertical distance from the horizontal axis to the production possibilities frontier. D. horizontal distance from the vertical axis to the production possibilities frontier. E. sum of the horizontal and vertical distances to the production possibilities frontier.