One unit of labor in Antardia can produce either 18 pounds of oranges or 9 pounds of apples in a month, while one unit of labor in Vanadia can produce either 16 pounds of oranges or 4 pounds of apples in a month. The opportunity costs of producing 1 pound of orange for one unit of labor in Antardia and Vanadia are:
a. 0.25 pounds of apples and 0.5 pounds of apples, respectively.
b. 9 pounds of

The Public Service Company of Colorado is a natural monopoly in the transmission and distribution of electric power. As such, it will incur an economic loss if it

A) goes out of business. B) prices its services at average total cost. C) prices its services at marginal cost. D) all of the above

For a worker to be potentially available, he or she must

A) know about the jobs available at a particular firm. B) be in the relevant geographic market and be willing to work for minimum wage. C) have most of the skills required by the firm only. D) have the skills required by the firm and be in the relevant geographic market.