Refer to the graph shown. Given the production possibility curve, the opportunity cost of reading 2 more articles when you are already reading 11 articles is on average:
A. 2 albums per article.
B. 3 albums per article.
C. 1/2 album per article.
D. 2/3 album per article.
Answer: A
Economics
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When an industry's raw material costs increase, other things remaining the same,
A) the supply curve shifts to the left. B) the supply curve shifts to the right. C) output increases regardless of the market price and the supply curve shifts upward. D) output decreases and the market price also decreases.
Economics
A consumer's budget constraint is determined by:
A. a consumer's income. B. a consumer's income and preferences. C. a consumer's income and the prices of the goods she buys. D. a consumer's preferences and the prices of the goods she buys.
Economics