People often produce goods. When production is characterized by opportunity costs, the resulting production possibilities frontier will be a straight line is a true statement.
<h3>What is opportunity cost in terms of production?</h3>
The opportunity cost of transporting or changing from one efficient combination of production to another that is better is simply defined as how much a specific good that is one goods is given up so that a person can get more of another kind of goods.
Opportunity cost is said to be seen when spending more money on an item.
Due to the above, when production is seen to be more of constant opportunity cost, the resulting production possibilities frontier is known to occur on a straight line.
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Answer:
immediately challenge the rule by filing a complaint with the administrative agency.
Explanation:
Since the new rule is affecting it's business by increasing cost andaking paperwork cumbersome, Al's Car Shack can file a complaint with the administrative agency stating it's case.
There is no dispute yet so there is no need to challenge the rule in court at this time.
If the administrative agency cannot settle with Al's Car Shack the case may go to court.
Answer:
1. A) Gold coins
2. B) food stamp
3. Gold coins
Funds in a checking account
Funds in a savings account
100 shares of Google stock
Grocery Store Coupons
Food stamps
Explanation:
Money is legal tender that is generally acceptable for transaction within a geographical location mostly a country.
Gold coins is a form of money that is accepted it can be use for transaction immediately.
Funds in checking and savings accounts :-money is available but not in cash or coin, a card is needed to make of the money.
100 shares of google stock:- this is an investment that will yield dividend over a period of time, its not available for use at the moment.
Grocery store coupons is restricted to a specific grocery store and has no value outside.
Food stamp is not generally acceptable outside the designated points.
