Refer to Figure 2-6. If the economy is currently producing at point E, what is the opportunity cost of moving to point D?
A) 10 thousand hammers B) 8 thousand wrenches
C) 13 thousand hammers D) 0 wrenches
B
Economics
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Since 1990 the highest economic growth rates in the world have occurred in
A. The United States. B. Nigeria. C. India. D. China.
Economics
Consider an industry with two firms producing similar products. Each firm's total cost (in dollars) is given below.Mega Corp: TC = 5,000 + 100QBig Inc: TC = 4,000 + 200Q________ has a higher fixed cost and ________ has a higher marginal cost.
A. Mega Corp; Big Inc B. Big Inc; Big Inc C. Mega Corp; Mega Corp D. Big Inc; Mega Corp
Economics