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Author Question: Suppose the country of Popcorn produces only jets and corn. If Popcorn cannot produce any more jets ... (Read 124 times)

pane00

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on: Jun 29, 2018
Suppose the country of Popcorn produces only jets and corn. If Popcorn cannot produce any more jets without giving up corn, we say that Popcorn has achieved
 
  A) the highest marginal benefit.
  B) production efficiency.
  C) the lowest marginal cost.
  D) the highest opportunity cost.

Question 2

Land suitable for growing corn is usually suitable for growing soybeans. From the farmer's perspective, an increase in the price of corn will therefore tend to
 
  A) decrease the demand for soybeans.
  B) increase the demand for soybeans.
  C) increase the supply (curve) of corn.
  D) raise the cost of growing soybeans.
  E) reduce the cost of growing soybeans.


mbcrismon

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  • Posts: 328
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

D


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