The price of leisure is an individual's wage, and this is the opportunity cost of not working.
举一反三
- A wage is the price for labor. A minimum wage set above equilibrium wage would be an example of: A: . a price ceiling. B: . a price floor. C: . a gap in prices or wages. D: . a wage settlement.
- 中国大学MOOC: Suppose Jim and Tom can both produce baseball bats. If Jim’s opportunity cost of producing baseball bats is lower than Tom’s opportunity cost of producing baseball bats, then
- The value of a business owner's time is an example of_________. A: a fixed cost B: an opportunity cost C: total revenue D: an explicit cost
- What is the total cost in this outcome (Firm A's total cost + Firm B's total cost)?What is the total cost in the efficient outcome (assuming that the price is $3 and four units are produced in total)?<br/>______
- The opportunity cost of an item is ( ). A: the price of that item B: what you give up to get that item C: the time you have to spend on earning enough money to buy that item D: the cost of producing that item