Examlex
The data in the table below assumes that with the same quantity of resources, both Australia and Philippines produces food and computers.Australia can make 1, 000 computers or 2, 000 units of food in a day, and the Philippines can make 200 computers or 1, 200 units of food in a day. Table 34.2 According to Table 34.2, what is the opportunity cost of 1 computer in the Philippines?
Marginal Revenue
The additional revenue that a company receives from selling one more unit of a good or service.
Downward-Sloping Demand
A common economic principle where the quantity demanded of a good or service decreases as its price increases.
Quantity Tax
A tax that is levied on the quantity of a good produced or sold, rather than its price.
Marginal Cost
The rise in overall expenses resulting from the production of an extra unit of a product or service.
Q2: The supply curve in the market for
Q12: If those who are poor at any
Q52: Productive efficiency is achieved when firms produce
Q54: In the market for land as a
Q75: Economists typically date the beginning of the
Q84: If you receive a dollar return of
Q107: Which of the following was the reserve
Q242: Which of the following is a positive
Q256: "The unemployment rate is too high" is
Q398: What is the difference between accounting profit