Microeconomics

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The opportunity cost of going to college includes the costs of tuition, books, fees, and a. nothing ... Started by cookcarl	1 Replies 109 Views	Jul 1, 2018 by vseab
Which economic concept does the expression time is money reflect? a. opportunity cost b. ... Started by Coya19@aol.com	1 Replies 25 Views	Jul 1, 2018 by babybsemail
The term opportunity cost suggests that a. in any exchange situation where one person gains, ... Started by ARLKQ	1 Replies 18 Views	Jul 1, 2018 by Jsherida
Melissa is a self-employed lawyer who chooses a higher-priced restaurant 2 miles from home over a ... Started by CORALGRILL2014	1 Replies 17 Views	Jul 1, 2018 by Jody Vaughn
The opportunity cost of an activity is best measured a. only by the monetary costs b. by the ... Started by K@	1 Replies 32 Views	Jul 1, 2018 by Koolkid240
Suppose you have purchased a non-refundable plane ticket and, at the last moment, you cannot take ... Started by jc611	3 Replies 57 Views	Jul 1, 2018 by firehawk60
If people specialize in producing those goods for which they possess a comparative advantage, then ... Started by piesebel	1 Replies 42 Views	Jul 1, 2018 by Kimmy
Comparative advantage is based on opportunity costs. a. True b. ... Started by karateprodigy	1 Replies 22 Views	Jul 1, 2018 by rekilledagain
The law of comparative advantage says that a. the individual with the lowest opportunity cost of ... Started by crazycityslicker	1 Replies 57 Views	Jul 1, 2018 by laurnthompson
If you and I agree to exchange four ginger snaps for one chocolate chip cookie, then it must be true ... Started by shofmannx20	1 Replies 47 Views	Jul 1, 2018 by skipfourms123
A person who can produce more of a good than another person is said to possess a comparative ... Started by Pineappleeh	1 Replies 31 Views	Jul 1, 2018 by blakcmamba
Absolute advantage is based on opportunity cost. a. True b. ... Started by saraeharris	1 Replies 32 Views	Jul 1, 2018 by stanleka1
Don can produce 10 pens or 20 pencils in one hour while Bob can produce 5 pencils or 15 pens in one ... Started by arivle123	1 Replies 53 Views	Jul 1, 2018 by sarah_brady415
Janis mows the lawn in 1 hour and types a paper in 1 hour. Kristen mows the lawn in 2 hours and ... Started by Collmarie	3 Replies 247 Views	Jul 1, 2018 by deja
If Evan has an absolute advantage in cleaning and bookkeeping when compared to Gloria, then a. Evan ... Started by abc	1 Replies 66 Views	Jul 1, 2018 by ASDFGJLO
If Robin has an absolute advantage in both gardening and baking when compared to Robert, then a. ... Started by mckennatimberlake	1 Replies 73 Views	Jul 1, 2018 by voltaire123
Eileen has a comparative advantage over Jan in piano tuning but not in shoe polishing. Therefore, ... Started by JMatthes	1 Replies 26 Views	Jul 1, 2018 by frre432
If Daniel produces one pair of shoes in 4 hours and Sarah produces one pair of shoes in 3 hours, ... Started by karen	1 Replies 108 Views	Jul 1, 2018 by at
In one week, Mohammed can knit 5 sweaters or bake 240 cookies. In one week, Tetah can knit 15 ... Started by jayhills49	1 Replies 45 Views	Jul 1, 2018 by juwms
In one week, Tetah can knit 15 sweaters or bake 480 cookies. The opportunity cost per cookie for ... Started by wrbasek0	1 Replies 42 Views	Jul 1, 2018 by Cnarkel
Specialization often leads to gains in productivity for society as a whole. a. True b. ... Started by jCorn1234	1 Replies 46 Views	Jul 1, 2018 by Melissahxx
If I trade a ginger snap for a chocolate chip cookie, I am engaging in a. barter b. comparative ... Started by tth	3 Replies 31 Views	Jul 1, 2018 by cadimas
Barter is a. illegal in the United States b. an efficient system of exchange c. most useful when ... Started by go.lag	1 Replies 19 Views	Jul 1, 2018 by meltdown117
Division of labor allows people to do tasks for which they have greater natural ability. a. True ... Started by tiara099	1 Replies 33 Views	Jul 1, 2018 by nikmaaacs
The division of labor a. allows more people to be employed b. allows tasks to be performed more ... Started by deesands	1 Replies 83 Views	Jul 1, 2018 by lorealeza