-- A student has only a few hours to prepare for two different exams tomorrow mo
ID: 1097819 • Letter: #
Question
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A student has only a few hours to prepare for two different exams tomorrow morning. The table below shows alternative possible exam outcomes with three alternative uses of the student's time. The opportunity cost of scoring an 84 on the history exam rather than 76 is:
Possibility
Economics
History
I
94
76
II
87
84
III
77
91
increase in quantity demanded. Using the graph below and beginning on D1, a shift to D2 would indicate a(n): increase in quantity demanded. decrease in quantity demanded. increase in demand. decrease in demand. A student has only a few hours to prepare for two different exams tomorrow morning. The table below shows alternative possible exam outcomes with three alternative uses of the student's time. The opportunity cost of scoring an 84 on the history exam rather than 76 is: 10 points on the economics exam 8 points on the history exam 7 points on the economics exam 12 points on the economics examExplanation / Answer
Increase in quantity demand; because shift changes demand, while change in price changes quantity demanded.
7 points on the economic exams; because the opportunity cost measure the gain foregone while opting an alternative.
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