Solved

Assuming That Resources Are Specialized, the Opportunity Cost of an Item

Question 194

Multiple Choice

Assuming that resources are specialized, the opportunity cost of an item increases as production of it rises.Therefore, we expect that firms will produce more if


A) the price increases.
B) the price decreases.
C) the opportunity cost is greater than the price.
D) government asks firms to produce more.
E) the income of buyers increases.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q10: The imposition of price ceilings on a

Q75: A demand schedule's position is determined partly

Q125: Price controls usually enhance efficiency in the

Q189: Economists generally recognize that rent controls cause

Q190: When there is an increase in demand,<br>A)the

Q191: Normally, to the extent that a governmental

Q193: At an equilibrium price for gasoline,<br>A)everyone with

Q196: Figure 4-11<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2282/.jpg" alt="Figure 4-11

Q198: For more than a thousand years, the

Q294: A price ceiling is only effective if