Refer to Figure 2-12. What is the opportunity cost of producing one gallon of honey in Tahiti?
A) 1 1/3 gallons of milk B) 0.9 gallons of milk
C) 5/6 of a gallon of milk D) 1.2 gallons of milk
C
Economics
You might also like to view...
Why do many people choose NOT to read the manuals included with their new computer?
A) They perceive that learning by doing decreases costs faster than learning by reading. B) They perceive that learning by doing is more enjoyable than learning by reading. C) They perceive that learning by reading is not sophisticated. D) They believe that the manuals are not accurate.
Economics
The equilibrating force in the credit market in the classical model is
A) the interest rate. B) the price level. C) full employment. D) fiscal policy.
Economics