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1. An unemployed individual decides to spend the day fishing. The opportunity cost of fishing is equal to
A) The cost of bait and any other monetary expenses.
B) Zero, because the person doesn't have a job.
C) The cost of bait, any other monetary expenses, and the value of the individual's wages while he was working.
D) The cost of bait, any other monetary expenses, and the value of the best alternative use of the individual's time.
If the indifference curves are straight lines with slope s, and the budget constraint is given by: x*p1+y*p2 = m, then describe the optimal choice of the consumer.
Moving along a demand curve, quantity demanded decreases 8 percent when price increases 10 percent. a. The price elasticity of demand is calculated to be____________ b. Given the
Suppose Nigeria has 20 million workers and 16 million units of capital, while Botswana has 5 million workers and 3.5 million units of capital. Which of the following statements is
If demand increases and the supply increases also, then what will happen to the new equilibrium price and equilibrium quantity? Explain what is happening with the curves and how pr
If the marginal disutility of labor increases, the equilibrium real wage increases and the equilibrium quantity of labor goes up. True or false?
Find the labor force, the working-age population, the number of employed workers, and the number of unemployed workers. Unemployment rate 5.60 % Participation rate 62.50
how to relate macro economics theories with current indian economy
definition and charactoristics of index numbers.problems while constructing index numbers
inflation of fuel price on consumer
Examine the efficiency of quanttitative credit control instrument
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