Refer to Table 9-15. Looking at the table above, real average hourly earnings in 2014 were

If the firm in Figure 17-4 above maintains its set price of P0, rather than dropping price to P1, the welfare loss to society due to this decision is

A) J + K. B) K - G. C) G + H. D) H + K. E) F + G + H.

An economy has two workers, Paula and Ricardo. Every day they work, Paula can produce 4 computers or 16 shirts, and Ricardo can produce 6 computers or 12 shirts. What is the opportunity cost for Ricardo to produce one shirt?

A. 2 computers B. ¼ computer C. 4 computers D. ½ computer