Multiple Choice
A small landscaping firm purchases a tractor that,in one day,is capable of drilling 60 fence- post holes or removing 12 tree stumps (or some intermediate combination) .For this landscaper,what is the opportunity cost of removing one extra tree stump?
A) 1/12th of the cost of the tractor
B) there is no opportunity cost
C) drilling 5 fence- post holes
D) drilling 12 fence- post holes
E) 1/5 of the cost of the tractor
Correct Answer:
Verified
Correct Answer:
Verified
Q88: A basic underlying point in economics is
Q89: The table below illustrates that,in one
Q90: The table below shows that,in one
Q91: Figure 1- 2With a budget of $500
Q92: If a country's production possibilities boundary is
Q94: Which of the following is illustrated by
Q95: Because resources are scarce,individuals are required to<br>A)use
Q96: FIGURE 1- 5 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5440/.jpg" alt="FIGURE 1-
Q97: Madeleine allows herself $100 per month for
Q98: Scarcity arises from limited resources.For this reason,all