A manager asks an employee, "Should we distribute tickets to the concert on a first-come-first-served basis or through a lottery?" The manager's question is best classified as which one of the following fundamental economic questions? For whom to produce. How to produce What to produce Why to produce

What is the opportunity cost of attending the current course (economics)? Discuss how you arrived at the decision to bear the opportunity cost?

How can these topics be applied to the real-world work environment of the corporate economist?   The market and equilibrium The demand side of the market The supply side of the market

What is “Opportunity Cost”? You win $1000 in a basketball pool. You have a choice between spending the money now or putting it away for a year in a bank account that pays 5 percent interest. What is the opportunity cost of spending the $1000 now?

Use the information in the table to answer the below question.                       Production Possibilities Frontier         Number of hours worked   Total benefit   Total cost       0        0     0 10    300 100 20    550 210 30    750 340 40    900 500 50 1,000 700   Christian delivers pizza using his own car and is paid according to numbers of boxes that he delivers. Use marginal analysis to determine the optimal number of hours that he should work.

Complete the following sentence. Marginal cost Select one: A. remains constant. B. is the opportunity cost of producing one more unit of a good or service. C. is unrelated to the production possibilities frontier. D. is always greater then marginal benefit. E. always equals marginal benefit.

A dairy farmer decides to use automatic milking machines instead of milking by hand. Which economic question is answered by his decision? Select one: ○ a. How to produce? b. For whom to produce? ○ c. Should milk be produced? ○ d. What to produce?

Ray bought two WVU football tickets for $100 each. However, he has won a free vacation and won’t be able to attend the game. A ticket scalper offers him $40 for each ticket before he leaves town. Calculate the opportunity cost. $0 $80 $200 $100 $120

The resources used to make all goods and services are the * production possibilities. production trade-offs. opportunity costs. factors of production. What is a factory building an example of? *

What's in the flow? Use the infomation from your PowerPoint (week-1) to answer the following questions. For each of the scenarios, you should identify: a the market: resource OR product b the factor ofproduction: land, labor, capital, OR entrepreneurship s. the product: good OR service 1. Rouhaan hashis own business selling shawama at a standin a Mall. For his shawama stand, he grows tomatoes in a small garden plot. a. Rouhaan rents his garden plot in the RESOURCE market. b. The garden plot is a Land resource. c. A shawama Rouhaan sells at his standis a 2. AZW Productions Inc. just announced a bighit show will play at the Grand Theaterin July. Raja works atthe shawama standinside the theater and says he can help you buy tickets to the show a.AZW Productions Inc. will sell tickets to you in the market. b. Raja is an example of a _resource. UE SmAZW Productions Inc. is selling you a