Refer to the scenario above. The opportunity cost of producing one pound of apples in Beta is:
A) 1/2 pounds of oranges. B) 15 pounds of oranges.
C) 10 pounds of oranges. D) 2 pounds of oranges.
A
Economics
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Explain why only final goods are included in GDP
What will be an ideal response?
Economics
Water bottlers announce that next month the price of bottled water will rise by 25 percent. Which of the following occurs immediately?
A) The demand for bottled water decreases. B) The demand for bottled water increases. C) The quantity of bottled water demanded increases. D) The quantity of bottled water demanded decreases. E) None of the above answers is correct because it is the supply that immediately changes, not the demand.
Economics