The money price of a can of shave gel is $0.80, and the relative price of a can of shave gel in terms of ramen is 4.00 boxes of ramen noodles per can of shave gel. The money price of a box of ramen noodles is A. the opportunity cost of a can of shave gel B. the opportunity cost of a box of ramen noodles C. $0.20 O D. $0.80

The money price of a can of shave gel is $0.80, and the relative price of a can of shave gel in terms of ramen is 4.00 boxes of ramen noodles per can of shave gel. The money price of a box of ramen noodles is A. the opportunity cost of a can of shave gel B. the opportunity cost of a box of ramen noodles C. $0.20 O D. $0.80

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter2: Choice In A World Of Scarcity

Section: Chapter Questions

Problem 19CTQ: Suppose Alphonsos town raises the price of bus tickets from 0.50 to 1 and file price of burgers...

See similar textbooks

Similar questions

The money price of a pack of granola bars is $1.40, and the relative price of a pack of granola bars in terms of burritos is 4.00 packs of frozen burritos per pack of grariola ba What is the money price of a pack of frozen burritos? The money price of a pack of frozen burritos is OA. $1.40 OB. the opportunity cost of a pack of frozen burritos OC. the opportunity cost of a pack of granola bars OD. $0.35
If you have 10 dollars to spend, and the price of water is $1 oer bottle, the budget containt would show that the most water you could buy is?
Tom and Abby produce rackets and balls. The tables show their production possibilities. Tom allocates all his resources and produces 2 rackets and 16 balls an hour. Abby allocates all her resources and produces 2 rackets and 4 balls an hour. Tom and Abby decide to specialize and trade. specializes in rackets and produces specializes in balls and produces A. Tom; 2 rackets; Abby; 32 balls B. Tom; 4 rackets; Abby; 8 balls C. Abby; 4 rackets; Tom; 32 balls D. Abby; 2 rackets; Tom; 8 balls E. Tom; 4 rackets; Tom; 32 balls The number of balls produced by If Tom and Abby specialize and trade 1 racket for 8 balls. gets rackets from for less than it costs gets balls from to produce them. to produce them, and for less than it costs Tom's Production Possibilities Rackets (per hour) 0 1 2 3 4 Abby's Production Possibilities Rackets (per hour) 0123 and and and and and 4 and and and and and Balls (per hour) 32 24 16 8 0 Balls (per hour) 8 006 NO 4 2 0
Use the following table to answer the question below. Jake's Production Possibilities Schedule Jane's Production Possibilities Schedule Pounds of Green Pounds of Corn Pounds of Green Pounds of Corn Beans Beans 160 80 10 120 20 60 40 20 80 40 30 40 60 20 40 80 Jake should specialize in the production of which good? neither both corn O green beans
Chip and Joanna are building a new home. Chip can cut 24 pieces of lumber or paint 4 rooms in a day. Joanna can cut 18 pieces of lumber or paint 2 rooms in an hour. Use this information to answer the following 4 questions. dp ca palnt 5. What is Chip's marginal cost of painting a room? a. 2 pieces of cut lumber 4 pieces of cut lumber c. 6 pieces of cut lumber d. 9 pieces of cut lumber chiy 24 b. Jlama 1 8. When Chip and Joanna work together, which of the following points satisfies production efficiency given their combined production possibilities? 4 rooms painted and 12 pieces of lumber cut b. 2 rooms painted and 24 pieces of lumber cut O rooms painted and 18 pieces of lumber cut d. 2 rooms painted and 30 pieces of lumber cut a. C.
The total benefit for burgers and beers is given below. Burgers cost $20 and beers cost $40. Total Benefit (Beers) 40 60 70 75 Quantity 1 2 3 4 Total Benefit (Burgers) 20 35 50 65 The marginal benefit of the third beer is. The marginal benefit per dollar of the second burger is $ (Round your answer to two decimal places) Which of the following is true regarding an extra dollar spent on the second burger? OA. It gives the same benefit as an extra dollar spent on the second beer. OB. It gives more benefit than an extra dollar spent on the second beer. OC. It gives less benefit than an extra dollar spent on the second beer.
An owner of a landscaping business received extra income in the previous month. She is considering eitner buying a new lawnmower or spending the money on an advertisment in order to increase business in the next few months If the business owner chooses to spend the money on an advertising campaign, what is the opportunity cost? O A. more advertising O B. next month's income O C. the lawnmower O D. increased business
at the market, 8 apples cost $4 how much do 9 apples cost?
Neal s a coffee drinker. At the local coffee shop, the price of a cup of coffee is $3. Neal’s total benefits from drinking coffee is provided in the accompanying table. What is Neal’s marginal benefit of consuming each cup of coffee? How many cups should he consume each day? Quantity of Coffee Total Benefits Marginal Benefit 1 $8 2 $14 3 $18 4 $20 5 $21
SUAL 6. 40 Diet Coke, Diet Coke with Splenda, Coke Zero, Diet Coke with Lemon, Diet Coke with Lime, Diet Vanilla Coke are examples of man CAVAB a product line. a product mix. specialty services. specialty goods. Əvwalki Növbəti Bütün suallar Qeyd olunanlar Cari Vəziyyət 15:01 82*F Sunny C 4) AZE 18.06.2 TOSHIBA
Leigh has two slices of pizza for lunch. The marginal benefit that Leigh receives from the second slice of pizza is O A. the total benefit she receives from eating two slices of pizza O B. the opportunity cost of producing the second slice of pizza OC. the maximum amount that she is willing to pay for the second slice of pizza O D. the maximum amount that she is willing to pay for two slices of pizza
Marginal benefit and marginal cost (dollars per swim) 50 MC 40 30 20 10 MB D 2 3 4 5 Manatee swims (per week) The figure above shows Kaley's marginal benefit from swimming with manatees and Scott's marginal cost of providing manatee swimming tours. At 1 manatee swim per week, Kaley's marginal benefit is __ and Scott's marginal cost is A) $40; $10 B) $40; $40 C) $90; $50