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A. the different combinations of two goods that a consumer can buy<br />
B. the quantity of a single good that a consumer is willing to buy at different<br />
prices<br />
C. the maximized utility from a good<br />
D. none of the above<br />
Question 29 of<br />
2.5/ 2.5 Points<br />
40<br />
The principle of opportunity cost is __________ .<br />
A. what someone sacrifices to get something<br />
B. the satisfaction of obtaining the best next alternative<br />
C. the choice someone has to make between two different<br />
goods<br />
D. the cost of paying for something someone needs<br />
Question 30 of<br />
2.5/ 2.5 Points<br />
40<br />
A firm's objective is to maximize its economic profit, which is __________ .<br />
A. total revenue minus economic<br />
cost<br />
B. total profit minus total cost<br />
C. economic cost minus profit<br />
D. economic cost minus total<br />
revenue<br />
Question 31 of<br />
2.5/ 2.5 Points<br />
40<br />
You are the owner and only employee of a company that repairs computers. Last year, you
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