All opportunity costs are
a. Nonmonetary
b. Forgone monetary payments
c. Losses of time
d. Values of alternatives that must be given up
e. Related to educational opportunities
Answer: d. Values of alternatives that must be given up
Economics
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The above table shows the market shares for all the landscaping services in a suburban area. The Herfindahl-Hirschman Index (HHI) equals
A) 65. B) 900. C) 1400. D) 1600.
Economics
Refer to Figure 2-6. If the economy is currently producing at point E, what is the opportunity cost of moving to point D?
A) 10 thousand hammers B) 8 thousand wrenches C) 13 thousand hammers D) 0 wrenches
Economics