In the above figure, at point b what is the opportunity cost of producing 2 more audio tapes?
A) 1/2 video tape per audio tape
B) 1 video tape per audio tape
C) 6 video tapes per audio tape
D) There is no opportunity cost.
A
Economics
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Refer to Figure 9.8. In order to eliminate international trade in sugar altogether, this country would have to impose a quota of
A) 0 tons. B) 200 tons. C) 300 tons. D) 350 tons. E) 500 tons.
Economics
Refer to the data for a fictional economy. The changes in the budget conditions between 1998 and 1999 best reflect:
A. demand-pull inflation.
B. an expansionary fiscal policy.
C. a recession.
D. a contractionary fiscal policy.
Economics