Opportunity cost:
a. applies only to consumption decisions.
b. applies only to production decisions.
c. is the same as monetary costs.
d. exists because of scarcity.
e. is irrelevant for wealthy economies.
Question 2
Pollution damages the environment we live in. An economist would advise that we reduce air pollution:
a. as long as the marginal benefit from air pollution reduction outweighs the marginal cost of achieving the reduction.
b. until the total benefit from air pollution reduction just equals the total cost of pollution reduction.
c. until air pollution levels reach near-zero levels.
d. to the levels experienced in the 1950s when air was much cleaner near big cities.
As a result of sharing its environment with humans, this macaque had the opportunity to steal an ast
Oil and Natural Gas Production from More Wells in Smaller Areas
Cereal production in Africa may decrease by as much as 50% by 2080 in some areas
As the world’s population continues to grow, demands on limited resources for food production
ATP Production in Cardiac Muscle
Complete the following production chart and plot the points.