In one week, Mohammed can knit 5 sweaters or bake 240 cookies. The opportunity cost per sweater for Mohammed is

Which of the following is true of hyperinflation?

a. It causes the value of a currency to deteriorate so quickly that people become reluctant to hold that currency. b. It is a situation in which people hoard currency expecting its value to increase in recent future. c. It is a simultaneous increase in inflation and decrease in the quality of products. d. It occurred in the United States in the 1970s. e. It is a synonym for cost-push inflation.

Suppose that a firm's legal staff concludes that a new production process that the firm is developing is patentable. Graphically, this new information would shift the firm's expected-rate- of-return curve on R&D to the:

A. right and reduce its optimal amount of R&D. B. right and increase its optimal amount of R&D. C. left and increase its optimal amount of R&D. D. left and reduce its optimal amount of R&D.