Refer to Table 2-7. What is Minnie's opportunity cost of making an umbrella?
A) 1/10 of a hat B) 1/4 of a hat C) 4 hats D) 40 hats
C
Economics
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Price elasticity of supply is always
A) positive because of the law of supply. B) negative because of the law of supply. C) positive because of diminishing marginal utility. D) negative because percentages can only be negative.
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Real consumption spending is inversely related to
a. real disposable income b. the amount of common stock owned c. the amount of real estate owned d. expectations of future income e. the interest rate
Economics