The following graph shows the production possibilities curve for the economy with only two members, Silvia and Art. Silvia can produce either 50 pounds of beef or 2 computers per week, and Art can produce 100 pounds of beef or 1 computer per week. Both of them work 40 weeks per year.With the opportunity to trade Silvia and Art can ________ the maximum consumption of computers by ________ units.
A. increase; 160
B. increase; 40
C. decrease; 80
D. decrease; 160
Answer: B
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Which of the following statements is FALSE?
a. type b personalities are generally less efficient than type a personalities because they are so relaxed b. type a personalities and type b personalities are both efficient, they just do things different ways c. type b personalities are laid back and casual, which makes them unhealthy and increases their risks d. type a personalities are generally less efficient than type b personalities because they have so many focuses that they never get any one project finished
Which of the following represents the marginal cost of a soda? I. The opportunity cost of producing another soda. II. The minimum price someone is willing to pay for another soda
A) I only B) II only C) I and II D) Neither I nor II