ECO2013 Ch. 1
If the consumer spent all of her money on either apples or bananas, how many apples or how many bananas would she be able to buy?
Refer to the above table. The marginal opportunity cost of the third unit of steel is:
Refer to the above table. In moving from possibility C to D, the cost of a tank in terms of autos is:
For this consumer, the opportunity cost of buying two bananas is
Refer to the above table. The total opportunity cost of the three units of steel is:
Refer to the above table. The opportunity cost of each additional tank in terms of autos:
What is the slope of the budget line for apples and bananas if apples were graphed on the horizontal axis and bananas were graphed on the vertical axis?
B) The economy is fully employed and is using least-cost methods of production
Refer to the above table. The total opportunity cost of the three units of tanks is:
Refer to the above table. The marginal opportunity cost of the fourth unit of tanks is:
B) 650 (Wrong)
C) 200 (Try this)
B) Normative economics is more important than positive economics
C) Positive economics is more important than normative economics
D) Economic wants are greater than economic means or incomes
B) Economic goals are complementary
C) Economic goals are conflicting
D) The marginal cost of the thing is less than the marginal benefit WRING
C) Are increasing wage demands by workers contributing to price inflation?
For this consumer, the opportunity cost of buying one more apple is
B) The opportunity cost of producing one good is zero
C) The society is capable of producing only one of the goods and not the other
D) The law of increasing opportunity costs does not apply
If the consumer decides to buy 4 apples, how many bananas can she also buy with the rest of her income?