Ronnie waits one hour in queue to buy a ticket to a rock concert. The opportunity cost of buying the $28 ticket:
a. is Ronnie's best alternative use of the sum of $28 spent on the ticket.
b. is Ronnie's best alternative use of the one hour it took to wait in queue.
c. is the revenue of $28 earned by the ticket agent.
d. is Ronnie's best alternative use of both $28 and the one hour spent in the queue.
e. cannot be measured because there is no opportunity cost associated with consumption.
d
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What will be an ideal response?
If households pay a fixed annual fee for trash disposal,
A) households will all tend to produce the same amount of garbage. B) households have no incentive to cut back on the amount of garbage they generate. C) that fee will provide households with an incentive to cut back on the amount of garbage they generate. D) that fee will discourage households from throwing out reusable materials. E) that fee will discourage households from throwing out toxic or otherwise harmful materials.