Refer to Table 2-8. What is Betty's opportunity cost of making a bench?
A) 1/2 of a statue B) 2.8 statues C) 1.75 benches D) 2 statues
D
Economics
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Which of the following would be consistent with the notion of a competitive market process, but would be inconsistent with the notion of perfect competition?
A) Cost-plus-markup pricing B) Freedom of entry C) Price taking behavior D) Large numbers of buyers and sellers E) All of the above.
Economics
According to the Bureau of Labor Statistics, a person who is not working and is not looking for work is
A. considered unemployed. B. considered underemployed. C. counted as a "not currently working" member of the labor force. D. not a member of the labor force.
Economics