Question
The opportunity cost of switching resources from health care to education is: a) the resulting overtime pay to hospital staff b) the extra cost of
The opportunity cost of switching resources from health care to education is:
a) the resulting overtime pay to hospital staff
b) the extra cost of employing more teachers
c) the resulting improvement in education
d) the extra cost of maintaining health care
e) the resulting decrease in health care services
DoctorsRUS has 10 employees. Each can produce a maximum of either 2 units of medical services or 5 units of administrative services per day. The opportunity cost of one more unit of medical services is:
a) 2 units of administrative services
b) 0.4 units of administrative services
c) 0.5 units of administrative services
d) 2.5 units of administrative services
e) 5 units of administrative services
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