In economics,cost is measured as ________,and benefit is measured as ________.
A) what you must give up to get something;what you are willing to give up to get it
B) what you are willing to give up to get it;what you must give up to get something
C) what you are willing to pay on the margin;what the government pays you when you are unemployed or retired
D) the amount of money that you pay on the margin;the amount of money that you receive on the margin
E) the amount of money that you pay for something;the amount of money that someone else is willing to pay you
Correct Answer:
Verified
Q60: Choices that are best for the individuals
Q61: Matthew has eaten two hamburgers and is
Q62: Ali decides to attend the one-hour review
Q63: The benefit from a good or service
Q64: Your lecturer changes the penalty for cheating
Q66: An opportunity cost is
A)the dollar amount that
Q67: The cost of a one-unit increase in
Q68: The marginal cost of an activity _
Q69: The value of the best thing that
Q70: Economists measure opportunity cost
A)as the sum of
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents