An opportunity cost: Al can be measured only when the decision involves expenditures of money. B) is equal to the value of what is given up to make a purchase or take an action. An opportunity cost: Al can be measured only when the decision involves expenditures of money. B) is equal to the value of what is given up to make a purchase or take an action.

How does your household gain from specialization and comparative advantage? (what is produced, what is not produced yet paid to a specialist to produce? )

Choose the statement that is incorrect. a. search activity occurs only in markets where there is a shortage. b. when a price is regulated and there is a shortage, search activity increases. c. the time spent looking for someone with whom to do business is called search activity. d. the opportunity cost of a good is equal to its price plus the value of the search time spent finding the good.

If the ceo of a large, diversified, firm were filling out a fitness report on a division manager (i. e., "grading" the manager), which of the following situations would be likely to cause the manager to receive a better grade? in all cases, assume that other things are held constant. a. the division's basic earning power ratio is above the average of other firms in its industry. b. the division's total assets turnover ratio is below the average for other firms in its industry. c. the division's debt ratio is above the average for other firms in the industry. d. the division's inventory turnover is 6, whereas the average for its competitors is 8.e. the division's dso (days' sales outstanding) is 40, whereas the average for its competitors is 30.