Refer to Table 7-6. Prior to trade, what was the opportunity cost to produce 1 sword in Morocco?
A) 1/2 of a belt B) 1 belt C) 1.5 belts D) 2 belts
B
Economics
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Auditors working for a large accounting firm are often away from the office. When they are in the office, they are allowed to use any desk that is available. Which method is used to allocate desks?
A) lottery B) first-come, first-served C) command D) contest E) sharing equally
Economics
If a technological change reduced the amount of the variable input needed by a firm to produce a unit of output:
a. its AVC curve would shift down. b. its ATC curve would shift down. c. its MC curve would shift down. d. All of the above would occur.
Economics