The opportunity cost of a hot dog in terms of hamburgers is the
A) ratio of the slope of the demand curve for hot dogs to the slope of the demand curve for hamburgers.
B) ratio of the slope of the supply curve for hot dogs to the slope of the supply curve for hamburgers.
C) money price of a hot dog minus the money price of a hamburger.
D) ratio of the money price of a hot dog to the money price of a hamburger.
D
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A tax rebate, which is expected to be offered in this and all future years, will
A) have a significant positive effect on consumption and aggregate demand, with aggregate demand growing by a multiple of the tax rebate. B) increase aggregate supply and aggregate demand. C) have a small positive effect on consumption and aggregate demand. D) have no effect on consumption and aggregate demand.
More firms produce MP3 players or electronics workers' wages rise? (Draw the diagrams!)
What will be an ideal response?