mepage - ECON*1050 (01.0 x Pearson MyLab and Mastering x | Take a Quiz/Test * @ Assignment 1 (Chapter 1 and 2) x + C mylab.pearson.com/Student/PlayerTest.aspx?testid=245677548¢erwin=yes Assignment 1 (Chapter 1 and 2) 4 0 * 1 5 Paused 1050 Microeconomics - On Campus F22 (1) mylab.pearson.com seline andrade 09/15/22 3:52 PM Quiz: Assignment 1 (Chapter 1 and 2) Question 6 of 10 > This quiz: 10 point(s) possible This question: 1 point(s) possible Submit quiz stion list Two countries, Antarctica and Arctica, produce only two goods: frozen fish and party ice. The table gives their production possibilities. Antarctica Arctica Frozen fish Party ice Frozen fish Party ice Which country has a comparative advantage in producing frozen fish and which country has a (quantity per week) (quantity per week) uestion 1 comparative advantage in producing party ice? 870 and and 0 580 and 32 and 97 290 and 97 16 and 193 and and 290 uestion 2 _has a comparative advantage in producing frozen fish and_ has a comparative advantage in producing party ice. O A. Arctica; Antarctica Question 3 O B. Antarctica; Antarctica O C. Arctica; Arctica uestion 4 O D. Antarctica; Arctica uestion 5 uestion 6 Question 7 Question 8 Question 9 Next MacBook Air F10 DI FB F7 BOO FA F5 20 F3 F2 delete FI O # O P R IT W E Q K G S D 4Chrome File Edit View History Bookmarks Profiles Tab Window Hap @ 1 7 1 12% Thu 3:52 PM Q Homepage - ECON*1050 (01.0 x | Pearson MyLab and Mastering x | Take a Quiz/Test x @ Assignment 1 (Chapter 1 and 2 x + - C A mylab.pearson.com/Student/PlayerTest.aspx?testid=245677548¢erwin=yes * 0 # Paus CON 1050 Microeconomics - On Campus F22 (1) seline andrade 09/15/22 3:52 PM Quiz: Assignment 1 (Chapter 1 and 2) C A mylab.pearson.com/Student/PlayerTest.aspx?testld=245677548¢erwin=yes ECON 1050 Microeconomics - On Campus F22 (1) Quiz: Assignment 1 (Chapter 1 and 2) Question 4 of 10 This qu This qu For each news item below, indicate whether it involves a what, how, or for whom question. Question list K "Consultants replacing high school counselors" involves a question. 'Oscar stars' swag-bags may be taxable" involves a question. Question 1 O Question 2 O A. how; what O B. how; for whom O C. for whom; what O Question 3 O D. for whom; for whom "Kids learning business basics" involves a how question O Question 4 O Question 5 Question 6 Question 7 Question 8 Question 9 MacBook Air F7 F8(01.0 x Pearson MyLab and Mastering x Take a Quiz/Test * @ Assignment 1 (Chapter 1 and 2) x + .pearson.com/Student/PlayerTest.aspx?testld=245677548¢erwin=yes * 0 * 1 Paused omics - On Campus F22 (1) seline andrade 09/15/22 3:52 PM ent 1 (Chapter 1 and 2) This quiz: 10 point(s) possible This question: 1 point(s) possible Submit quiz K Why is the opportunity cost the best forgone alternative? Opportunity cost is the best forgone alternative because A. the opportunity cost of an activity you do not enjoy is zero B. although you have many alter tives, it is the highest-valued alternative that you give up O C. when you make a choice, you face a tradeoff D. you always make choices that increase your benefit Pam, Pru, and Pat are deciding how they will celebrate the New Year. Pam prefers to go on a cruise, is happy to go to Hawaii, but does not want to go skiing. Pru prefers to go skiing, is happy to go to Hawaii, but does not want to go on a cruise. Pat prefers to go to Hawaii or to take a cruise, but does not want to go skiing. Their decision is to go to Hawaii. What is the opportunity cost of the trip to Hawaii for each of them? A. The opportunity cost for each of them is the airfare to Hawaii. O B. The opportunity cost for Pam and Pat is the airfare to Hawaii minus the cost of a cruise and for Pru, it's the airfare minus the cost of a ski trip. C. The opportunity cost for Pam and Pat is a cruise and for Pru it is skiing. O D. The opportunity cost for each of them is the airfare to Hawaii minus the cost of a cruise. Next MacBook Air 40)) F12 O FIO II FB F7 - FE F5 20 F 808 F4 delete F2 Plc P O Y U W E R K G H S D F- ECON*1050 (01.0 x 5 Pearson MyLab and Mastering x Take a Quiz/Test x Assignment 1 (Chapter 1 and 2 x + mylab.pearson.com/Student/PlayerTest.aspx?testid=245677548¢erwin=yes * 0 # 1 5 Paused O Microeconomics - On Campus F22 (1) seline andrade 09/15/22 3:52 PM Assignment 1 (Chapter 1 and 2) This quiz: 10 point(s) possible This question: 1 point(s) possible Submit quiz The opportunity cost of a cake is_ K at point A than at point B. on list Cakes (number per hour) 8.07 The opportunity cost of a loaf of bread is at point B than at point A. A tion 6.0 A. less; greater B stion 2 O B. greater, less 4.0- O C. less; less D. greater; greater stion 3 2.0- PPF stion 4 0.0 - 10 Bread ( loaves per hour ) estion 5 estion 6 uestion 7 Yestion 8 Question 9 Next MacBook Air 44 F7 1I FB BB8 FA F5 F3 delet F2 Plo a # 5 NO O Y E R T Q W K G H D F