You have chosen to take a trip during spring break. If you had not gone, you would either have worked at a temporary job or studied for exams. The opportunity cost of your trip is
A) the wages you would have earned from working.
B) the lower grade earned by not studying.
C) the wages you would have earned from working and the lower grade earned by not studying.
D) the value of the tri
E
Economics
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The increase in the capital stock equals the amount of
A) gross investment. B) depreciation. C) net investment. D) private sector spending.
Economics
Suppose the inverse supply curve in a market is Q = 6p2. What is the producer surplus when price is equal to 4?
A) 96 B) 128 C) 28 D) 48
Economics