In the figure are two linear production possibilities curves for countries Alpha and Beta. We can conclude that:
A. different value systems make it impossible to compare opportunity costs in the two
countries.
B. the opportunity cost of shelter is greater in Beta than it is in Alpha.
C. the opportunity cost of food is greater in Alpha than it is in Beta.
D. the opportunity cost of shelter is greater in Alpha than it is in Beta.
D. the opportunity cost of shelter is greater in Alpha than it is in Beta.
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If Happy Cows, a dairy firm, merges with Best Cartons, a manufacturer of dairy cartons, and the combined firm is able to reduce the number of executive managers, the merger created ________.
A) synergies B) managerial diseconomies C) technological interdependencies D) a hold-up problem
The South's economy was based on production of
A. iron, steel and textiles. B. corn, wheat and soybeans. C. tobacco, cotton and rice. D. iron, wheat and cotton.