An economy produces at point a on the PPF shown in the above figure. A drought reduces the amount of wheat produced and the economy produces at point b. The opportunity cost of a unit of wheat ________

Which of the following bonds will have the highest yield-to-maturity if all three bonds appear identical to investors in terms of risk, liquidity, information costs, tax treatment?

A) one with a coupon of $50 B) one with a coupon of $100 C) one with a coupon of $200 D) none of the above

There are dozens of sit-down restaurants in a large city in dozens of locations. The best model to analyze this market is

A. oligopoly. B. monopoly. C. perfect competition. D. monopolistic competition.