The opportunity cost of producing 50 bed linens for the US is A 8333 Bed Linens

The opportunity cost of producing 50 bed linens for

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13.The opportunity cost of producing 50 bed linens for the US is:A) 83.33 Bed LinensB) 100 Bed LinensC) 60 Computer ChipsD) 50 computer ChipsCorrect Answer(s):DPoints Earned:3.0/3.014.Using comparative advantage, which country should import bed linens?
Feedback:SOUTH KOREA SHOULD IMPORT BED LINENS SINCE THEY HAVE A COMPARATIVE ADVANTAGE IN PRODUCING COMPUTER CHIPS SINCE THEY HAVE LOWER OPPORTUNITY COSTS IN PRODUCING COMPUTER CHIPS AND THUS SHOULD SPECIALIZE IN PRODUCING COMPUTER CHIPS.THE US SHOULD IMPORT COMPUTER CHIPS SINCE THEY HAVE LOWER OPPORTUNITY COSTS IN PRODUCING BED LINENS RELATIVE TO SK AND THUS, HAS A COMPARATIVE IN PRODUCINGBED LINENS AND SHOULD SPECIALIZE IN PRODUCING BED LINENSPoints Earned:0.0/3.015.Marginal analysis involves undertaking an activityPoints Earned:3.0/3.016.Which of the following statements is true about scarcity?
Points Earned:3.0/3.0Correct Answer(s):17.Economists assume that individualsAA) behave in unpredictable waysB) will never take actions to help othersC) prefer to live in a society that values fairness above all elseD) are rational and respond to incentivesCorrect Answer(s):DPoints Earned:3.0/3.018.Which of the following is a normative economic statement?Points Earned:3.0/3.0

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