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Author Question: Suppose Joe can prepare 10 sandwiches or 5 pizzas in an hour and Beth can produce 12 sandwiches or 9 ... (Read 82 times)

cdr_15

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on: Jun 29, 2018
Suppose Joe can prepare 10 sandwiches or 5 pizzas in an hour and Beth can produce 12 sandwiches or 9 pizzas. Which of the following is TRUE?
 
  A) Beth should produce pizza because she has a higher opportunity cost of producing pizza than does Joe.
  B) Beth should produce pizza because she has a lower opportunity cost of producing pizza than does Joe.
  C) Joe should produce pizza because he has a higher opportunity cost of producing pizza than does Beth.
  D) Joe should produce pizza because he has a lower opportunity cost of producing pizza than does Beth.

Question 2

The effect of the invisible hand is likely to be the strongest under which market structure?
 
  A) Oligopoly
  B) Monopoly
  C) Perfect competition
  D) Monopolistic competition


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annierak

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

C


cdr_15

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Reply 2 on: Jun 29, 2018
Wow, this really help

hollysheppard095

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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