Multiple Choice
What would be the opportunity cost of a child using a coupon for a free ice cream cone?
A) The dollar cost of the cone he or she selected
B) The other types of ice cream he or she could have selected
C) Zero, because the good was not a durable good
D) Zero, because the good was free
Correct Answer:
Verified
Correct Answer:
Verified
Q80: Opportunity cost cannot be measured in money
Q81: In terms of the production possibilities diagram,
Q82: A society that relies on a market-based
Q83: Few bother to think about what makes
Q84: Figure 3-6 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8592/.jpg" alt="Figure 3-6
Q86: Rob took the afternoon off from his
Q87: Specialization of labor makes sense only if
Q88: When a firm or economy is operating
Q89: Although finished goods are scarce, the inputs
Q90: How do economists define efficiency? Elaborate.