What happens to the maximum amount of "all other goods" that this person can buy if instead he receives the $100 in food coupons? What's the maximum amount of food he can buy under this plan?
What will be an ideal response?
He still can only purchase 500 units of "all other goods". The maximum amount of food is 300 units.
Economics
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Suppose Pippi buys an oven for her pizza parlor for $100,000. Pippi's pizza tasted so pitiful she went out of business 12 months later. She was able to sell the pizza oven for $75,000. This decrease in the value of the oven is
A) the total implicit rental rate on the oven. B) an economic loss. C) economic depreciation. D) interest forgone.
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Since 1960, countries in Africa have grown at rates ________ those of the main industrial countries
A) far below B) far above C) about the same D) slightly below E) slightly above
Economics