Lu Thier is an accomplished violin and viola maker. He can make either 6 violins or 6 violas each year, or a combination such as 3 violins and 3 violas. Which statement below is true?
A) The opportunity cost of producing 1 violin is 1 viola.
B) The opportunity cost of producing 1 violin is 3 violas.
C) The opportunity cost of producing 1 violin is 6 violas.
D) The opportunity cost of producing 1 violin is 9 violas.
A
Economics
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What will happen to domestic monopolists' prices and outputs when a small country engages in international trade?
a. Prices will rise and outputs will fall. b. Prices will rise and outputs will rise. c. Prices will fall and outputs will rise. d. Prices will fall and outputs will fall
Economics
A sudden expectation of future appreciation of the dollar causes funds to flow __________ the United States and the dollar to actually __________
A) out of; depreciate B) out of; appreciate C) into; depreciate D) into; appreciate
Economics