Between 1968 and 2008 the percentage share of income that went to the top quintile

The table above gives the labor market for a small foreign economy. Equilibrium in the labor market occurs at a real wage rate of

A) $7.15 per hour. B) $8.50 per hour. C) $9.00 per hour. D) $7.65 per hour. E) $8.00 per hour.

Your opportunity cost of choosing a particular activity

a. can be easily and accurately calculated b. cannot even be estimated c. does not change over time d. varies, depending on time and circumstances e. is measured by the money you spend on the activity