A student named Sydna lives on a desert island and can either fish or gather dates. If she spends 8 hours fishing, she catches 8 fish; if she spends 8 hours gathering dates, she finds 4 dates. Then, the opportunity cost of catching a fish is:

The demand for and supply of AI chips both increase equally. As a result, the equilibrium price of an AI chip ____ and the quantity ____.

A production point inside a production possibilities frontier indicates

The Lorenz curve in Nation A is closer to the 45º line of equality than the Lorenz curve in Nation B. Consequently, it is definitely the case that Income is distributed more equally in Nation A than Nation B. The average income is higher in Nation A than in Nation B.

Because of an advance in technology, a monopoly finds that its MC curve has shifted downward. The firm will ____ its price and ____ the quantity it produces.

A fall in the price of cabbage from $10.50 to $9.50 per bushel increases the quantity demanded from 18,800 to 21,200 bushels. The price elasticity of demand is

Georgine buys more sweaters when her income increases. For Georgine, sweaters are ____ good.

Imagine that Intel and AMD are a duopoly, that is, the only two firms that produce CPU chips. Further suppose that they form a cartel which produces the monopoly profit-maximizing output and sets the monopoly profit-maximizing price. Both firms equally share the economic profit. If Intel and only Intel cheats on the cartel, Intel ____ its output, Intel’s economic profit ____, and total economic profit of the two firms combined ____.

Which of the following is equivalent to the following sum:

Use the fundamental theorem of calculus to compute the following definite integral: