Refer to Table 2-5. What is Estonia's opportunity cost of producing one cell phone?
A) 0.2 board feet of lumber B) 5 board feet of lumber
C) 8 board feet of lumber D) 32 board feet of lumber
B
Economics
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In a diagram showing the average total cost and average variable cost curves, the minimum point of the average total cost is
A) at the same level of output as the maximum of the total product curve. B) at a lower level of output than the minimum point of the average variable cost. C) at a larger level of output than the minimum point of the average variable cost. D) at the same level of output as the minimum point of the average variable cost.
Economics
Which of the following is a way to reduce agency costs?
a. Change the decision maker b. Transferring information to the decision maker c. Change the decision maker's incentives d. All of the above
Economics