The technology associated with manufacturing computers has advanced enormously. This change has led to the price of a computer ________ and the quantity ________
A) rising; increasing
B) rising; decreasing
C) falling; increasing
D) falling; decreasing
E) falling; not changing
C
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Li works for a wage of $9 per hour. He has 50 hours to devote to work or leisure. If his wage rises to $11 per hour, _____
a. he will spend more time working because his opportunity cost of leisure will rise b. he will spend less time working because his opportunity cost of leisure will rise c. he will spend less time working because his opportunity cost of leisure will fall d. he will spend more time working because his opportunity cost of labor will rise
A firm that is operating at a loss may continue to operate for a while because of costs that it will still have to pay even if production ceases.
Answer the following statement true (T) or false (F)