Use the following to answer questions : 
-(Table: Bongos and Frisbees) Look at the table Bongos and Frisbees. Bill and Mickey make bongos and Frisbees. Who should specialize in the production of bongos?
Definitions:
Implicit Cost
Costs that represent the loss of potential income from using resources for one purpose instead of their next best alternative use.
Capital
Financial assets or physical goods that have value and are used in the production of other goods and services, such as machinery, buildings, or money.
Capital
Resources such as machinery, buildings, and equipment used in the production of goods and services.
Dormitories
Residential facilities provided by educational institutions for students to live in.
Q9: If two variables are positively related:<br>A)as one
Q45: (Figure: Good X and Good Y) Look
Q68: Which of the following winds could result
Q83: Which of the following will NOT cause
Q92: (Table: The Market for Chocolate-Covered Peanuts) Look
Q97: In the market for wheat, if the
Q152: When the price of gas goes down,
Q156: (Figure: Comparative Advantage) Look at the figure
Q187: According to the law of demand, if
Q291: When the economy turns down and the