When economists refer to people making decisions at the margin, they mean that we compare ________ benefits with ________ costs.
A) total; total
B) total; incremental
C) additional; additional
D) additional; marginal
Correct Answer:
Verified
Q10: In economics, utility is defined as
A) the
Q11: The concept of marginality is important in
Q12: Marginal utility equals the change in total
Q13: The term marginal means
A) total.
B) average.
C) subjective.
D)
Q14: If total utility is decreasing, then marginal
Q16: The utility that people experience from the
Q17: Utility analysis helps economists understand
A) how people
Q18: Marginal utility can be thought of as
A)
Q19: Marginal utility is
A) the utility received from
Q20: Which of the following is NOT true
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