The Opportunity Cost of Making a Component Part in a Factory

question 58

Multiple Choice

The opportunity cost of making a component part in a factory with excess capacity for which there is no alternative use is

• A)the total manufacturing cost of the component.
• B)the total variable cost of the component.
• C)the fixed manufacturing cost of the component.
• D)zero.

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The combined gross income of all members of a household, which can include wages, salaries, pension, and other forms of income.

United States

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Discrimination

The practice of according individuals or groups inferior treatment in hiring, occupational access, education and training, promotion, wage rates, or working conditions even though they have the same abilities, education, skills, and work experience as other workers.

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The total number of people employed or actively seeking employment in an economy or specific labor market.