Marginal analysis involves looking at the extra costs involved in a decision.
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Q19: Even though international trade is undertaken voluntarily,
Q20: Both parties gain in a voluntary exchange.
Q21: Externalities affect only the buyer and seller
Q22: Airlines can use marginal analysis to set
Q23: The relatively low rate of inflation coupled
Q25: Externalities are created when parties not involved
Q26: The concept of economic efficiency refers to
Q27: Market-based policies are effective methods that the
Q28: There is no trade-off between efficiency and
Q29: In both the 1970s and the 1990s,
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