To think at the margin means to consider:
A. how nothing remains constant over time.
B. how a small change in one variable affects another variable.
C. how people behave in their own self-interest.
D. how people will decide what to purchase.
Answer: B
You might also like to view...
In the expanded circular flow diagram, the government supplies
A) factors of production to the factor market. B) goods and services to households. C) factors of production to firms. D) goods and services to the product market.
An example of "automatic stabilizers" is a rise in ________ causing the budget deficit to ________
A) real GDP, fall B) real GDP, rise C) government expenditures, fall D) government expenditures, rise E) the average tax rate, fall
Left to their own, private markets tend to
a. under-allocate resources to public goods b. allocate the economically efficient amount of resources to public goods. c. over-allocate resources to public goods.
Variable cost divided by the change in quantity produced is
a. average variable cost. b. marginal cost. c. average total cost. d. None of the above is correct.