Refer to Table 2-8. What is Wilma's opportunity cost of making a bench?
A) 1.3 statues B) 3 statues C) 1/3 of a statue D) 1/2 of a bench
Answer is B) 3 statues
Economics
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Donna owns the only dog grooming salon on Lonely Island. The figure above shows the dog grooming market. Donna is a single-price monopoly that maximizes profit by charging ________ per grooming and producing ________ groomings per day
A) $30; 8 B) $20; $8 C) $20; $12 D) None of the above answers is correct.
Economics
The interest rate the Fed charges on loans to depository institutions is known as
A) the federal funds rate. B) the Fed loan rate. C) the discount rate. D) the interbank clearing rate.
Economics