(Consider This) A direct cost of going to college is:
A. tuition, while an indirect cost (opportunity cost) is books and other supplies.
B. forgone income while in college, while an indirect cost (opportunity cost) is tuition.
C. tuition, while an indirect cost (opportunity cost) is forgone income while in college.
D. books and supplies, while an indirect cost (opportunity cost) is food and housing.
Answer: C
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The aggregate supply curve will shift to the left if
a. energy prices fall. b. technology and productivity increase in the economy. c. the capital stock of the economy increases. d. the money wage rate increases.
Basket of goods A is on an indifference curve that lies closer to the origin than basket B. From this we know that
A) the prices of the goods in A are less than the prices of the goods in B. B) the satisfaction from consuming A is more than the satisfaction from consuming B. C) the marginal utility from consuming A is less than the marginal utility from consuming B. D) the satisfaction from consuming A is less than the satisfaction from consuming B.