ECONOMICS
DEMAND
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Opportunity cost of time is constant among all consumers.
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True
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False
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Either A or B
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None of the above
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Explanation:
Detailed explanation-1: -Opportunity cost of time is constant among all consumers. When a firm breaks even, total revenue just covers total cost. Producers offer more for sale when the price decreases because they need to sell more to make a profit. A higher price makes producers more willing and better able to increase quantity supplied.
There is 1 question to complete.