The concept of opportunity cost helps us explain the choices of ...

[Shelles]

The concept of opportunity cost helps us explain the choices of
 
  A) consumers only.
  B) producers only.
  C) greedy people only.
  D) politicians only.
  E) any individual.

Question 2

The table above shows information about the costs and benefits of a steel smelter that pollutes the air of a city. The market is efficient when the quantity of steel produced is ________ tons per week.
 
  A) 5
  B) 10
  C) 15
  D) 20
  E) 25

[Brenm]

Answer to Question 1

E

Answer to Question 2

C