Econ 100 Unit 1

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Economic freedom generally leads to

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Which of the following statements is true?

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If you must make a choice about consuming two apples, three oranges, or one candy bar, the opportunity cost of the candy bar is

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Opportunity cost is best defined as the

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Nicky makes $25,000 a year as a sales clerk. He then decides to quit his job to enter an MBA program full time (assume Nicky does not work in the summer or hold any part time jobs). His tuition, books, living expenses, and fees total $15,000 a year. Given this information, the annual total cost of Nicky's MBA studies is

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Which of the following is considered to be a physical capital?

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Oil found underground in Texas is an example of

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A person has a comparative advantage in producing a good if that person

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Scenario 1.1 Alan and Brian work at a baseball and softball manufacturing plant. Alan can produce either 10 baseballs or 4 softballs in an hour. Brain can produce either 8 baseballs or 2 softballs in an hour. According to Scenario 1.1, the opportunity cost for Brian to produce 1 softball is

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In figure 1.3, under utilization of resources is represented by point

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Undergrad

Econ 100 Unit 1

Economic freedom generally leads to

Which of the following statements is true?

If you must make a choice about consuming two apples, three oranges, or one candy bar, the opportunity cost of the candy bar is

Opportunity cost is best defined as the

Which of the following is considered to be a physical capital?

Oil found underground in Texas is an example of

A person has a comparative advantage in producing a good if that person

Scenario 1.1 Alan and Brian work at a baseball and softball manufacturing plant. Alan can produce either 10 baseballs or 4 softballs in an hour. Brain can produce either 8 baseballs or 2 softballs in an hour. According to Scenario 1.1, the opportunity cost for Brian to produce 1 softball is

In figure 1.3, under utilization of resources is represented by point

Look at image

Look at image

Look at image

Look at image

Look at image

Look at image

Look at image

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Look at image