Author Question: Margaret can use her quarterly savings to buy a teakwood study table for her room or spend it on a ... (Read 146 times)

waynest

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Margaret can use her quarterly savings to buy a teakwood study table for her room or spend it on a small Christmas party with her family. The _____ cost of her enjoyment at the Christmas party would then equal the forgone utility of the study table.
 a. transaction
  b. exchange
  c. opportunity
  d. direct
  e. sunk

Question 2

Capital-intensive production techniques tend to be utilized most commonly in countries where labor is relatively cheap.
 a. True
  b. False
  Indicate whether the statement is true or false



manuelcastillo

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Answer to Question 1

c

Answer to Question 2

False



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