In the above figure, at point a what is the opportunity cost of producing one more audio tape?
A) 1 video tape per audio tape
B) 2 video tapes per audio tape
C) 14 video tapes per audio tape
D) There is no opportunity cost.
A
Economics
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A person will choose to buy a good as long as
A) marginal benefit is at least as great as price. B) consumer surplus is positive. C) marginal benefit is positive. D) consumer surplus is at least as great as price.
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Demand-pull inflation is caused by:
a. an increase in aggregate demand. b. a decrease in aggregate demand. c. an increase in aggregate supply. d. a decrease in aggregate supply.
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