How much profit does the company make from producing and selling four soccer nets?
  • Point Y
  • 4
  • $2.00
  • 109
Which statement correctly compares the two businesses?
  • In case will require less costly investment in labor, while Wrap up will require less capital in the long term
  • NOT Marginal cost is the money a producer earns from selling one more unit, while marginal revenue is the money a producer pays for making one more unit
  • NOT the 3rd or 4th pair of cleats
  • NOT The opportunity cost of producing one soccer net is eight soccer balls
Stan's Sporting Goods is a competitor that can manufacture seven soccer balls out of a possible ten, if it makes one soccer net. Which statement correctly compares the two businesses?
  • NOT Marginal cost is the money a producer earns from selling one more unit, while marginal revenue is the money a producer pays for making one more unit
  • Sabrina's Soccer has a comparative advantage over Stan's Sporting Goods because Sabrina's Soccer has a lower opportunity cost.
  • In case will require less costly investment in labor, while Wrap up will require less capital in the long term
  • NOT 1,3,4
Which statement correctly explains the chart?
  • NOT the 3rd or 4th pair of cleats
  • NOT The opportunity cost of producing one soccer net is eight soccer balls
  • NOT Marginal cost is the money a producer earns from selling one more unit, while marginal revenue is the money a producer pays for making one more unit
  • In case will require less costly investment in labor, while Wrap up will require less capital in the long term
Anytown households that earn more than $75,000 tend to buy sports equipment, while households that earn less than $75,000 tend to buy TVs. Which new business would be most likely to succeed?
  • an electric store
  • NOT 1,3,4
  • It will help to satisfy the demand
  • Points C & D
Standards of living is the level at which
  • NOT the 3rd or 4th pair of cleats
  • assess demand to choose a business.
  • 1,3,6 Not Good combination2,4,51,4,6
  • consumers enjoy desired goods
Based on the survey data, what will occur if a new pizza place opens?
  • NOT Marginal cost is the money a producer earns from selling one more unit, while marginal revenue is the money a producer pays for making one more unit
  • It will help to satisfy the demand
  • assess demand to choose a business.
  • NOT the 3rd or 4th pair of cleats
What is the marginal cost of producing a 5th soccer net?
  • NOT Marginal cost is the money a producer earns from selling one more unit, while marginal revenue is the money a producer pays for making one more unit
  • Not Absolute advantage is the ability to sell a good or a service at a higher price than competitors. Comparative advantage is the ability to sell a good or service at a lower price than competitors.
  • $2.00
  • supply
If Sabrina's Soccer makes 3 nets, how many balls can the company produce?
  • NOT 1,3,4
  • 109
  • It will help to satisfy the demand
  • 4
Market saturation results from excess_______
  • consumers enjoy desired goods
  • Point Y
  • $2.00
  • supply
If the market for soccer balls is saturated and the market for soccer nets is open, which combination makes the most sense for Sabrina's Soccer?
  • NOT D
  • NOT 1,3,4
  • Points C & D
  • Point Y
A survey of hobbies and purchases can help a producer?
  • consumers enjoy desired goods
  • NOT the 3rd or 4th pair of cleats
  • It will help to satisfy the demand
  • assess demand to choose a business.
What is the difference between absolute advantage and comparative advantage?
  • It will help to satisfy the demand
  • Not Absolute advantage is the ability to sell a good or a service at a higher price than competitors. Comparative advantage is the ability to sell a good or service at a lower price than competitors.
  • $2.00
  • NOT Marginal cost is the money a producer earns from selling one more unit, while marginal revenue is the money a producer pays for making one more unit
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