The opportunity cost of a good increases as more of it is produced because
A) producing more of a good requires additional resources.
B) the number of forgone alternatives also increases.
C) resources are not equally productive in all activities.
D) people want the good less as more is produced.
E) there is no such thing as a free lunch.
C
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The money demand curve shifts to the right when
a. there is an increase in the riskiness of interest-bearing assets. b. there is a decrease in the interest rate. c. income decreases. d. income increases. e. both a and d.
Farmers can choose to produce eggs or milk. If there is an increase in the price of milk then what will be the effect in the egg market?
a. The quantity of eggs demanded will increase. b. Egg demand will decrease. c. Egg supply will increase. d. Egg supply will decrease.