QUESTION 17 The assertion that "there is no free lunch" means that: OA. there are always trade-offs between economic goals OB. all production involves the use of OC.marginal analysis is used in economic reasoning D.choices need not be made if behavior is rational scarce resources and thus the sacrifice of alternative goods QUESTION 18 Any point inside the production possibilities curve indicates. A, that resources are imperfectly substitutable among alternative uses. O B. the presence of OC. the presence inflationary of technological change O D. that more output could be produced with the available pressures resources QUESTION 19 Although sleeping in on a work day or school day has an opportunity cost, sleeping late on the weekend does not O True

Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter2: Choice In A World Of Scarcity
Section: Chapter Questions
Problem 19CTQ: Suppose Alphonsos town raises the price of bus tickets from 0.50 to 1 and file price of burgers...
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QUESTION 17
The assertion that "there is no free lunch" means that:
O A, there are always
trade-offs between
economic goals
O B. all production involves the use of OC.marginal
OD. choices
need not
be made if
behavior is
rational
scarce resources and thus the
sacrifice of alternative goods
analysis is used
in economic
reasoning
QUESTION 18
Any point inside the production possibilities curve indicates.
O A. that resources are
imperfectly substitutable
among alternative uses.
B. the presence of Oc the presence
inflationary
OD. that more output
could be produced
with the available
of
technological
change
pressures
resources
QUESTION 19
Although sleeping in on a work day or school day has an opportunity cost, sleeping late on the weekend
does not
O True
Transcribed Image Text:Question Completion Status: QUESTION 17 The assertion that "there is no free lunch" means that: O A, there are always trade-offs between economic goals O B. all production involves the use of OC.marginal OD. choices need not be made if behavior is rational scarce resources and thus the sacrifice of alternative goods analysis is used in economic reasoning QUESTION 18 Any point inside the production possibilities curve indicates. O A. that resources are imperfectly substitutable among alternative uses. B. the presence of Oc the presence inflationary OD. that more output could be produced with the available of technological change pressures resources QUESTION 19 Although sleeping in on a work day or school day has an opportunity cost, sleeping late on the weekend does not O True
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