According to economic theory, a politician will accept an invitation for another photo opportunity as long as
A) she is paid well.
B) he can be sure he will look handsome in the picture.
C) the marginal benefit exceeds the marginal cost.
D) there are no costs involved.
C
Economics
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What will be an ideal response?
Economics
The extra cost associated with undertaking an activity is called
A) net loss. B) marginal cost. C) opportunity cost. D) foregone cost.
Economics
The law of diminishing marginal returns results in average total cost eventually
A. decreasing at an increasing rate. B. increasing at an increasing rate. C. decreasing at a decreasing rate. D. increasing at a decreasing rate
Economics
A firm faces the labor productivity and cost schedule in the table above. How many workers will this profit-maximizing firm employ?
A. 6
B. 7
C. 8
D. 9
Economics