Suppose That a Worker in Country a Can Make Either

question 78

Multiple Choice

Suppose that a worker in Country A can make either 10 iPhones or 5 iPads each year. Country A has 100 workers. Suppose a worker in Country B can make either 2 iPhones or 10 iPads each year. Country B has 200 workers. Which of the following is true?

• A) In Country A, the opportunity cost of one iPhone is two iPads.
• B) In Country A, the opportunity cost of one iPad is two iPhones.
• C) The opportunity cost of iPads is lower in Country A than in Country B.
• D) In Country B, the opportunity cost of one iPhone is two iPads.

Understand the concepts of total fixed cost, total revenue, and profit-maximizing output in a purely competitive market.

Analyze cost data to determine a firm's optimal production level and associated economic outcomes.

Identify and interpret the short-run supply curve for a purely competitive firm.

Apply the principle of marginal analysis to firm decision-making in purely competitive markets.

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Definitions:

Sexually Suggestive Gestures

Actions or signs made with the body that imply sexual interest or intent, often considered inappropriate in certain contexts.

Longitudinal Counseling

A counseling approach that involves extended engagement over time to observe and support changes or developments in an individual's behavior, thoughts, or emotions.

Explorative

Research designed to investigate an area or phenomenon that is not well understood.

Supportive Interventions

Actions or strategies designed to provide assistance, encouragement, and resources to individuals or groups to support their well-being and success.