The ultimate or absolute measure of value in the opportunity cost perspective
A) does not exist.
B) is the labor embodied in goods.
C) is the money price of the goods.
D) is the nonrenewable resources consumed in producing the goods.
A
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What happens to a monopolistically competitive firm that begins to change an excessive price for its product?
a) The firm will go out of business b) Consumers will substitue a rival's product c) Consumers will boycott the product d) The government will regulate the price
In order to have adequate water access, based on the World Bank definition, there should be
A. A public lake or stream within a mile of everyone's home. B. Indoor plumbing in at least one-quarter of the homes in a country. C. A private water pipe outside everyone's home. D. A protected public water pipe within half a mile of everyone's home.