ECON 2100 Midterm: ECON 2100 Kennesaw State ECON2100 Summer2010 Exam1D
Document Summary
Econ 2100 (summer 2010 sections 05 and 06) Corey spends his workday making hamburgers and hotdogs. His opportunity cost of making a hamburger is 4 hotdogs. As a result, his opportunity cost of making a hotdog is greater than 4 hamburgers. is equal to 4 hamburgers. is equal to. 4 of a hamburger. cannot be determined from the given information. Ken has to spend and wants to purchase either a dvd player or an mp3 player. Each good costs exactly , so he can only purchase one of the two items. Specialization can allow societies to produce greater quantities of output. people respond to incentives. people face tradeoffs. imposing price controls in a market will reduce the quantity traded of a good. Tony latone of the pottsville maroons was the toughest football player in the history of the nfl. The federal minimum wage in the u. s. is currently . 25 per hour.
