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Author Question: Suppose that in an hour Joe can prepare 10 sandwiches or 5 pizzas. The opportunity cost of Joe ... (Read 163 times)

javeds

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on: Jun 29, 2018
Suppose that in an hour Joe can prepare 10 sandwiches or 5 pizzas. The opportunity cost of Joe producing one sandwich is
 
  A) 2 pizzas.
  B) 1/2 pizza.
  C) 5 pizzas.
  D) 1 pizza.

Question 2

As a tool that is used to measure inequality in the distribution of income, the Lorenz curve graphs
 
  A) the cumulative percentage of income against the cumulative percentage of households.
  B) the percentage of total income received by each given percentage of households.
  C) the mean income, median income, and mode income against the percentage of households.
  D) the mean income received by households over time.


Ptupou85

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

B

Answer to Question 2

A


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javeds

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Reply #2 on: Jun 29, 2018
Thank you


Ptupou85

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Reply #3 on: Jun 29, 2018
No problemo


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