Multiple Choice
A student has a chance to see Eric Clapton in concert.The student also has a major economics exam in the morning.If the student goes to the concert,
A) she will get a lower grade on the economics exam.
B) the opportunity cost of the concert is time spent studying.
C) this decision implies a trade-off.
D) All of the above are correct.
Correct Answer:
Verified
Correct Answer:
Verified
Q4: Opportunity cost is best defined as the
Q22: The principle of comparative advantage explains specialization
Q24: Rational production decisions require an understanding of<br>A)trade-offs.<br>B)opportunity
Q37: A society must make three sorts of
Q65: Opportunity cost is the combined value of
Q183: The U.S.government spent over $3.6 trillion in
Q203: A large government faces a production possibilities
Q246: Firms are encouraged by the profit motive
Q253: The main reason that finished goods are
Q261: If the quantity of one good that