Refer to Table 2-17. What is Lucy's opportunity cost of making a wagon?
A) 3 wagons B) 3/4 of a wagon C) 1 1/3 tricycles D) 2 tricycles
C
Economics
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If a consumer doubles her quantity of ice cream consumed when her income rises by 25%, then her income elasticity of demand for ice cream is
A) 8.0. B) 4.0. C) .25. D) .08.
Economics
The rationale for exchange rates determining AD is with
A. weaker dollar exports, AD will rise. B. stronger dollar exports, AD will rise C. stronger dollar imports, AD will rise. D. weaker dollar imports, AD will rise.
Economics