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Author Question: Refer to Figure 2-5. If the economy is currently producing at point W, what is the opportunity cost ... (Read 121 times)

kamilo84

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on: Jun 29, 2018
Refer to Figure 2-5. If the economy is currently producing at point W, what is the opportunity cost of moving to point Y?
 
  A) 2 million tons of paper B) 14 million tons of steel
  C) 9 million tons of paper D) 2 million tons of steel

Question 2

Refer to Figure 4-1. If the market price is 1.50, what is Arnold's consumer surplus?
 
  A) 1.50 B) 2.25 C) 3.00 D) 4.75


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reelove4eva

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

A


kamilo84

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Reply 2 on: Jun 29, 2018
Excellent

kusterl

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Reply 3 on: Yesterday
Wow, this really help

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