An example of an explicit cost for the owner of a tattoo parlor would be the wages that she could earn if she worked as a graphic artist for an advertising agency

To achieve allocative efficiency, an economy

A) must produce on its PPF. B) does not necessarily need to be production efficient. C) must have increases in technology. D) might leave some resources unemployed. E) can produce either on or within its PPF.

When a price rise of an asset can be justified by fundamental concepts and past experiences, then such a price rise does not constitute a classic bubble

a. True b. False Indicate whether the statement is true or false