A marginal change is illustrated by which of the following?
A) Nancy retires and takes a part-time job. She was working 40 hours per week and now works 10 hours per week.
B) Provincial University has announced that due to provincial budget deficits, tuition must rise by 25% next year.
C) Ryan moved to a new apartment and now pays 40% more rent than before.
D) Vancouver, which usually receives 10 inches of rain per year, received 11 inches last year.
Correct Answer:
Verified
Q54: Which of the following is the best
Q56: What is the opportunity cost of going
Q57: Mallory decides to spend 3 hours working
Q58: Maurice receives $100 as a birthday gift.
Q59: What is a marginal change?
A) a long-term
Q60: Which of the following is the best
Q61: Mike has spent $500 purchasing and repairing
Q64: Carol has spent $2,000 purchasing and repairing
Q70: In the nation of Dictatorland, farmers traditionally
Q75: Your professor loves her work teaching economics.
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