Which statement is true?
A) The marginal benefit of an activity is the extra cost incurred.
B) The marginal benefit of an activity is the extra benefit enjoyed.
C) The marginal benefit of an activity is the total benefit a person receives from consuming all of the items of that good.
D) All of the above.
E) None of the above.
Correct Answer:
Verified
Q1: Opportunity cost is:
A)The sum of the value
Q3: Opportunity costs:
A)Include both explicit and implicit costs.
B)Include
Q4: Suzie spends her Thursday afternoon sleeping.If she
Q5: A sunk cost:
A)Is the opportunity cost of
Q6: Elina is contemplating doing a degree.If she
Q7: Ceteris paribus means:
A)Only two variables are moving
Q8: Elina is contemplating doing a degree.If she
Q9: As an economist you observe that as
Q10: Ceteris paribus is used in economics:
A)To help
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