The economic surplus of an action is:
A) the benefit gained by taking an action.
B) the difference the explicit and implicit costs of taking an action.
C) the difference between the benefit and the cost of taking an action.
D) the money a person has left over after taking an action.
Correct Answer:
Verified
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Q26: The cost-benefit model used by economists is:
A)unrealistic
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Q37: Economists use abstract models because:
A)every economic situation
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