After graduating from high school, Steve had three choices, listed in order of preference: (1) matriculate at our campus, (2) work in a printed circuit board factory, or (3) attend a rival college. His opportunity cost of going to college here includes which of the following? Select one: O a. the income he could have earned at the printed circuit board factory plus the direct cost of attending college here (tuition, textbooks, etc.) plus the benefits he could have received from going to the rival college. O b. the cost of books and supplies at the rival college O c. the benefits he could have received from going to the rival college O d. the income he could have earned at the printed circuit board factory plus the direct cost of attending college here (tuition, textbooks, etc.) e. only the tuition and fees paid for taking classes here
After graduating from high school, Steve had three choices, listed in order of preference: (1) matriculate at our campus, (2) work in a printed circuit board factory, or (3) attend a rival college. His opportunity cost of going to college here includes which of the following? Select one: O a. the income he could have earned at the printed circuit board factory plus the direct cost of attending college here (tuition, textbooks, etc.) plus the benefits he could have received from going to the rival college. O b. the cost of books and supplies at the rival college O c. the benefits he could have received from going to the rival college O d. the income he could have earned at the printed circuit board factory plus the direct cost of attending college here (tuition, textbooks, etc.) e. only the tuition and fees paid for taking classes here
Chapter3: Scarcity, Trade-offs, And Production Possibilities
Section: Chapter Questions
Problem 9P
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Please answer the following
Transcribed Image Text:After graduating from high school, Steve had three choices, listed in order of preference: (1) matriculate at
our campus, (2) work in a printed circuit board factory, or (3) attend a rival college. His opportunity cost of
going to college here includes which of the following?
Select one:
O a. the income he could have earned at the printed circuit board factory plus the direct cost of
attending college here (tuition, textbooks, etc.) plus the benefits he could have received from going
to the rival college.
Ob. the cost of books and supplies at the rival college
O c. the benefits he could have received from going to the rival college
O d. the income he could have earned at the printed circuit board factory plus the direct cost of
attending college here (tuition, textbooks, etc.)
O e. only the tuition and fees paid for taking classes here
Transcribed Image Text:The table below represents the combinations of beef and corn produced on a tract of land of a given size
and fertility
Corn (bushels) Beef (kg)
10000
0.
8000
900
6000
1200
4000
1400
2000
1475
1500
The production possibilities shown for corn and beef mean that the PPF
Select one:
O a. is concave because the opportunity cost of corn falls as more corn is produced
O b. is concave because the opportunity cost of beef increases as more beef is produced
C.
is concave because the total amournt of beef increases as less corn is produced
O d. is a straight line because the change in corn is 2000 bushels all along
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