Bill Bonecrusher graduates from college with a choice of playing professional football at $2 million a year or coaching for $50,000 a year
He decides to play football, but eight years later, though he could continue to play football at $2 million a year, he quits football to make movies for $3 million a year. His opportunity cost of playing football at graduation was ________ and eight years later the opportunity cost of making movies was ________. A) $50,000; $2 million
B) $2 million; $2 million
C) $2 million; $3 million
D) $50,000; $50,000
A
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The government defines poverty as an income level less than three times the cost of a minimal diet
a. True b. False Indicate whether the statement is true or false
Average product measures:
A. the marginal product averaged across all inputs. B. the quantity of output produced per unit of input. C. the additional output created from an additional unit of input. D. All of these are true.