1. Business
  2. Economics
  3. 3 you have a free evening and your friends give...

Question: 3 you have a free evening and your friends give...

Question details

3. You have a free evening, and your friends give you a choice between 3 options: 1) Going to Isaacs Bar and Grill 2) Watching The Rocky Horror Picture Show on DVD 3) Kite surfing You absolutely hate Isaacs, but enjoy the other two activities. What is your opportunity cost of kite surfing? (A) Your pleasure from watching Rocky Horro (B) Your pleasure from going to Isaacs (C) Your combined pleasured from the pub and watching Rocky Horror (D) None of the above4. Suppose that an economy produces two goods: cocaine and sports cars. Which of the following does NOT cause this economys Production Possibilities Frontier (PPF) to shift? (A) Trade (B) Political and economic institutions (C) Using the same resources to produce more cars and less cocaine (D) Technology

Solution by an expert tutor
Blurred Solution
This question has been solved
Subscribe to see this solution