Refer to Scenario 1-1. Using marginal analysis terminology, what is another economic term for the incremental cost of producing the last 400 t-shirts?
A) operating cost B) marginal cost
C) explicit cost D) Any of the above terms are correct.
B
You might also like to view...
A person starting to drive more recklessly after signing a contract with an automobile insurance company is an example of
A) adverse selection. B) moral hazard. C) signaling. D) screening.
Which one of the following is an example of a positive statement?
A) Farmers need some type of government aid. B) State governments should provide economic assistance to farmers. C) The federal government should provide economic assistance to farmers. D) The amount of financial assistance given to farmers is higher this year than it was 10 years ago.
Which of the following is an example of an individual motivated by self-interest?
a. a student volunteering at a soup kitchen b. an attorney providing free legal service to low income families c. a man buying a new Camaro d. all of the above
Poor countries often have difficulty investing in capital because
a. development assistance is designed in increase consumer goods. b. multinational corporations do not bring technological advances into poor countries. c. the population is living at subsistence level and cannot afford to save. d. they suffer from the cost disease of personal services.