After much consideration, you have chosen Cancun over Ft. Lauderdale as your Spring Break destination this year. However, Spring Break is still months away, and you may reverse this decision. Which of the following events would prompt you to reverse this decision?
a. The marginal benefit of going to Cancun increases.
b. The marginal cost of going to Cancun decreases.
c. The marginal benefit of going to Ft. Lauderdale decreases.
d. The marginal cost of going to Ft. Lauderdale decreases.
d
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In the Keynesian model deviations of output from potential are caused by:
A. fluctuations in aggregate spending. B. fluctuations in average labor productivity. C. changing asset prices. D. technological change.
The objects we use as money today include
A) currency inside banks and bank deposits. B) currency outside the banks and bank deposits. C) only currency outside the banks. D) only deposits inside the banks. E) credit cards and debit cards.
The most recent data indicates households in the top fifth of the income distribution earn more than ten times as much income as those in the bottom fifth
a. True b. False
To maximize sales revenue, an oligopolist will expand output until the elasticity of demand becomes
a. negative. b. zero. c. one. d. infinite.