Author Question: Horatio can produce either a combination of 15 bird houses and 25 wind chimes or a combination of 30 ... (Read 214 times)

Yolanda · **on:** Jun 29, 2018

Horatio can produce either a combination of 15 bird houses and 25 wind chimes or a combination of 30 bird houses and 15 wind chimes.

If he now produces 30 bird houses and 15 wind chimes, what is the opportunity cost of producing an additional 10 wind chimes?
A) 2 bird houses B) 15 bird houses C) 30 bird houses D) 45 bird houses

Question 2

Label each entry in the list as dealing with a microeconomic topic or a macroeconomic topic. Explain your answer.

What will be an ideal response?

Eunice618 · **Reply #1 on:** Jun 29, 2018

Answer to Question 1

B

Answer to Question 2

Motor vehicles production in China is growing by 10 percent a year.
This entry is a microeconomic topic because individuals and businesses make decisions whether to buy or sell cars.
Coffee prices rocket.
This entry is a microeconomic topic because individuals and businesses make decisions whether to buy or sell coffee.
Globalization has reduced African poverty.
This entry is a macroeconomic topic because globalization is the result of choices made by billions of people rather than an individual or business.
The government must cut its budget deficit.
This entry is a macroeconomic topic because neither an individual nor a business makes decision to cut expenditures.
Apple sells 3 million iPhones a month.
This entry is a microeconomic topic because individuals and Apple make decision whether to buy or sell iPhones.