Author Question: Suppose you have four choicesgo to a movie, read a book, watch television, or go to a concert. You ... (Read 32 times)

charchew · **on:** Jun 29, 2018

Suppose you have four choicesgo to a movie, read a book, watch television, or go to a concert. You choose to go to a movie. The opportunity cost of the movie is

A) the value of the book not read.
B) the value of the television program not watched.
C) the value of the concert that you didn't attend.
D) the value of the activity that you would have selected if you hadn't gone to the movie.

Question 2

The market clearing price of computer modems has just decreased. Which of the following could have caused this change?

A) a decrease in supply at the same time that demand increases
B) an increase in supply at the same time that demand decreases
C) a decrease in supply with demand unchanged
D) an increase in demand with supply unchanged