Opportunity cost is
A. the financial cost of purchasing a good or services
B. the marginal benefit minus the marginal cost
C. the expected value of buying a good or service
D. the value of the opportunity that you give up when you choose one activity instead of another one
Ans: D. the value of the opportunity that you give up when you choose one activity instead of another one
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Refer to the graph above. Points A, B, and C represent ________, ________, and ________, respectively
A) equilibrium wage rate after migration from home to foreign has occurred; the wage rate in foreign before migration; the wage rate in home before migration B) equilibrium wage rate after migration from foreign to home has occurred; the wage rate in home before migration; the wage rate in foreign before migration C) the wage rate in home before migration; the wage rate in home after migration; the wage rate in foreign after migration D) the global wage rate before migration; the wage rate in foreign after migration; the wage rate in home after migration E) the global wage rate before migration; the wage rate in home after migration; the wage rate in foreign after migration
How does social regulation differ from economic regulation?
What will be an ideal response?