Author Question: The rate at which Sam is willing to give up a gallon of gasoline to get one more pound of coffee, ... (Read 45 times)

Bernana · **on:** Jun 29, 2018

The rate at which Sam is willing to give up a gallon of gasoline to get one more pound of coffee, and remain on the same indifference curve is called his

A) opportunity cost of coffee.
B) opportunity cost of gasoline.
C) personal price of coffee.
D) marginal rate of substitution.

Question 2

The above table shows some cost data for Tracey's Tents. What is the average fixed cost when 4 tents are produced?

A) 50.00
B) 12.50
C) 25.00
D) 37.50