Multiple Choice
Suppose a bakeshop with 5 employees can produce both pies and cakes.In one day,if all resources are devoted to baking pies,the shop can produce 125 pies; if all resources are devoted to baking cakes,the shop can produce 50.What is the shop's opportunity cost of producing any one cake?
A) 0.4 pies
B) 0.25 pies
C) 2.5 pies
D) 0.4 cakes
E) 2.5 cakes
Correct Answer:
Verified
Correct Answer:
Verified
Q58: Consider Canada's production possibilities boundary.During the nineteenth
Q59: Karl Marx argued that<br>A)technological change was not
Q60: Complex economic plans for many economic sectors
Q61: Which of the following best describes the
Q62: If a country's production possibilities boundary is
Q64: In traditional economies,economic behaviour is<br>A)largely determined by
Q65: In a pure market economy,the role of
Q66: Scarcity arises from limited resources.For this reason,all
Q67: In the current Canadian economy,the majority of
Q68: Which of the following best completes the