Consider two straight-line PPFs. They have the same vertical intercept, but curve I is flatter than curve II. The opportunity cost of producing the good on the horizontal axis
A) is greater along curve I.
B) is greater along curve II.
C) is the same along both curves.
D) cannot be compared for the two curves without more information.
B
Economics
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In financial markets, actual market prices sometimes diverge from the equilibrium price because
A) supply is often greater than demand. B) demand is often greater than supply. C) supply is equal to demand. D) of geographical and temporal fragmentation.
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For a monopoly, the value of the next worker equals
A) MR ? MPL. B) p ? MPL. C) MPL. D) w/MPL.
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