Author Question: In the above figure, moving from producing 50 guitars and 50 ukuleles to producing 25 guitars and 75 ... (Read 391 times)

ap345 · **on:** Jun 29, 2018

In the above figure, moving from producing 50 guitars and 50 ukuleles to producing 25 guitars and 75 ukuleles, the opportunity cost of one ukulele is

A) 25 guitars.
B) 75 ukuleles.
C) 25 ukuleles.
D) 1 guitar.

Question 2

According to economists, when two people make exactly the opposite decision

A) one of them is acting irrationally.
B) each person evaluates the situation according to his/her individual self-interest.
C) one of them is acting out of spite.
D) one of them should compromise.