The following graph is the production possibility curve for a three-person economy, with workers Janna, Drew, and Karl.Who has the highest opportunity cost of producing rice?
A. Drew
B. Kari
C. Janna
D. Janna and Drew
Answer: C
Economics
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Demand sensitivity depends on all of the following except:
a. how low is the price of the good. b. the sensitivity of firms' output to changes in its price. c. the consumer's income. d. the availability and closeness of substitutes. e. the amount of time a consumer has to adjust to price changes.
Economics
Which of the following groups would be considered suppliers in the labor market?
a. Government agencies b. Firms c. Households d. Stockholders e. Landlords
Economics