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A car's real cost is its opportunity cost. Opportunity cost is determined by ___.
a. wealth
b. the price of the car
c. relative prices
d. the prices of the goods that are compliments to a car

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Anne Gillian Duero
Anne Gillian DueroLv10
17 Oct 2020

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Related questions

Which of the following is an illustration of the law of increasing opportunity costs?
 
a. As more cars are produced, the opportunity cost of each additional car is greater than for the preceding unit. 
b. As more cars are produced, the opportunity cost of each additional car is less than for the preceding unit. 
c. As more cars are produced, the opportunity cost of each additional car is the same as for the preceding unit. 
d. People pay higher prices for the higher cost of cars.
 

Which of the following is an illustration of the law of increasing opportunity costs?

A) As more cars are produced, the opportunity cost of each additional car is greater than for the preceding unit.

B) As more cars are produced, the opportunity cost of each additional car is less than for the preceding unit.

C) As more cars are produced, the opportunity cost of each additional car is the same as for the preceding unit.

D) People pay higher prices for cars the higher the costs of cars.

 

Which scenario is an example of cost-push inflation?
A. Consumers have more money to buy cars, and the prices of cars and car parts rise as a result.
B. An increase in workers’ wages raises the production cost of cars, and car prices rise as a result.
C. The demand for cars falls as consumers have less disposable income, and car prices fall as a result.
D. A government bailout helps car manufacturers lower their costs, and car prices fall as a result.

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