The value of one more unit of a good or service is its marginal benefit
Indicate whether the statement is true or false
TRUE
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Define marginal benefit. Explain how it is measured and why the data in the table does not enable you to calculate Brazil's marginal benefit from food
What will be an ideal response?
The dollar appreciates when U.S. demands for foreign currencies decrease
a. True b. False Indicate whether the statement is true or false
Marginal revenue is defined as the
a. total revenue minus total cost b. change in total revenue divided by the change in the quantity of output c. price minus average total cost d. total revenue over the quantity of output e. quantity times price
Inflation is harmful to society because it often
a. causes consumers' purchasing power to decline b. causes sellers' costs to increase c. causes nominal wages to fall d. causes purchasing power to be redistributed in haphazard ways e. has no effect at all on anyone's purchasing power