Amy can study for an hour or spend that hour sleeping or going out for dinner. If she decides to study for the hour, the opportunity cost of the hour spent studying is
A) sleeping or going out for dinner, whichever she would have preferred the most.
B) definitely going to slee
A
You might also like to view...
The current account surplus
A) is a decreasing function of disposable income and an increasing function of the real exchange rate. B) is an increasing function of disposable income and an increasing function of the real exchange rate. C) is an increasing function of disposable income and a decreasing function of the real exchange rate. D) is a decreasing function of disposable income and a decreasing function of the real exchange rate. E) is an increasing function of disposable income and a decreasing function of aggregate demand.
Under a Pareto Optimum
A) it is always possible to improve someone's welfare. B) it is never possible to improve someone's welfare. C) one can only reduce someone's welfare. D) it is impossible to reduce someone's welfare.