If you wear your favorite clothes first and eat your favorite food before the food you prefer less you most likely have a
A. a neutral time preference.
B. time preference that varies depending on whether you are eating or dressing.
C. a negative time preference.
D. positive time preference.
Answer: D
Economics
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Refer to the above table. Assuming that opportunity costs are constant, the opportunity cost of producing a bicycle in the United States is equal to ________, and the opportunity cost of producing a bicycle in Mexico is ________
A) 4 computers; 0.5 computer B) 0.25 computer; 2 computers C) 2.67 bicycles; 0.33 computers D) 0.375 computer; 3 bicycles
Economics
How do you interpret the coefficient of the price elasticity of demand? Explain when Ed is 1.5, 0.7, and 1.0
Please provide the best answer for the statement.
Economics