Suppose Joe can prepare 10 sandwiches or 5 pizzas in an hour and ...

[cdr_15]

Suppose Joe can prepare 10 sandwiches or 5 pizzas in an hour and Beth can produce 12 sandwiches or 9 pizzas. Which of the following is TRUE?
 
  A) Beth should produce pizza because she has a higher opportunity cost of producing pizza than does Joe.
  B) Beth should produce pizza because she has a lower opportunity cost of producing pizza than does Joe.
  C) Joe should produce pizza because he has a higher opportunity cost of producing pizza than does Beth.
  D) Joe should produce pizza because he has a lower opportunity cost of producing pizza than does Beth.

Question 2

The effect of the invisible hand is likely to be the strongest under which market structure?
 
  A) Oligopoly
  B) Monopoly
  C) Perfect competition
  D) Monopolistic competition

[annierak]

Answer to Question 1

B

Answer to Question 2

C

[cdr_15]

Excellent

[chereeb]

TYSM