James overspent and will need to spend the next six months paying off his credit card bill. this money was supposed to have gone into his investment account, which earns 10 percent annually. what type of cost is this 10 percent?
a. opportunity cost
b. sunk cost
c. variable cost
d. credit cost

Which of the following most accurately describes how the equilibrium price of a good or service can be determined? a. by moving the supply curve right or left until it matches the demand curve. b. by finding where the supply curve and the demand curve intersect. c. by doing market research to determine the maximum price consumers will pay. d. by taking the opposite of the columns in a supply schedule and a demand schedule.