Refer to Scenario 3 . Compute the opportunity cost of building two more huts in one day
What will be an ideal response?
First we start off by calculating what the opportunity cost is of building all 6 huts. We can set this up as an algebraic expression 6H = 150C. Therefore 1H = 25C and 2H = 50C or 50 coconuts.
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In 1981-1983, the world economy suffered a steep recession. Naturally, the fall in industrial countries' aggregate demand had a direct negative impact on the developing countries
What other mechanism was an even more important contributor to this event? A) the immediate steep inflation that followed the recession B) the dollar's sharp depreciation in the foreign exchange market C) the increase in primary commodity prices, increasing terms of trade in many poor countries D) the collapse in primary commodity prices and the immediate, large rise in the interest burden that debtors had to pay E) the influx of defaulting credit
Bob is the only carpet installer in a small isolated town. The above figure shows the demand curves of two distinct groups of customers-residential and business. Bob is likely to price discriminate because
A) elasticities differ across markets. B) the installation of carpets cannot be resold. C) Bob can probably identify which consumers belong to which segment. D) All of the above.