If All of a Resource's Earnings Reflect the Opportunity Costs

question 154

Multiple Choice

If all of a resource's earnings reflect the opportunity costs of the resource,_____

• A)the equilibrium price and quantity of that resource are determined by the intersection of the demand and supply curves in the product market.
• B)the equilibrium price of that resource is zero.
• C)the quantity of that resource is determined exclusively by supply.
• D)the price of that resource is determined exclusively by demand.
• E)the quantity of that resource is determined exclusively by demand.

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Definitions:

Complex stepfamily

A family structure that includes children from previous relationships of both partners, creating a network of relationships more complicated than those in simple stepfamilies.

Biological children

Offspring to whom one is genetically related, as opposed to children acquired through adoption or other means.

Family composition

Refers to the makeup or structure of a family, including the number and relationship of its members.

Role expectations

The anticipated behaviors and actions associated with a particular social position or status.