It costs Cool Clothes Company $15 to produce one pair of jeans, but they needed to
discontinue production of shirts to focus on jeans. For this company, the $15 is the _______,
and discontinuation of shirt production is considered their __________.
opportunity cost; production cost
production...
Economics Exam Revision Questions &
100% Correct Answers- Latest Test |
Graded A+ | Passed
It costs Cool Clothes Company $15 to produce one pair of jeans, but they needed to
discontinue production of shirts to focus on jeans. For this company, the $15 is the _______,
and discontinuation of shirt production is considered their __________.
opportunity cost; production cost
production cost; resource cost
production cost; opportunity cost
resource cost; production cost
֎ -:- production cost, opportunity cost
Which occurs during disequilibrium? Check all that apply.
Supply and demand meet.
Supply is less than demand.
Supply and demand set prices.
Supply is greater than demand.
Supply and demand set production.
֎ -:- Supply is less than demand, Supply is greater than demand.
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