Which of the following is not shown on a production possibilities curve? a. all of the goods and services an economy has the ability to produce b. the efficiency of an economy c. whether an economy has grown or shrunk d. the opportunity cost of a decision to produce more of one good or service

Suppose that a monopolistically competitive restaurant is currently serving 260 meals per day (the output where mr

Levine inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. direct materials (9 pounds at $1.80 per pound) $16.20 direct labor (6 hours at $14.00 per hour) $84.00 during the month of april, the company manufactures 270 units and incurs the following actual costs. direct materials purchased and used (2,500 pounds) $5,000 direct labor (1,660 hours) $22,908 compute the total, price, and quantity variances for materials and labor.

When a market is in equilibrium, the buyers are those with the willingness to pay and the sellers are those with the costs.