Scarcity implies that
A) the satisfaction of one person's want means another person's want can also be satisfied.
B) the satisfaction of one person's want means another person will be more than satisfied.
C) the satisfaction of one person's want means another person's want cannot be satisfied.
D) no person's wants can be satisfied.
C
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For a perfectly competitive firm, as its output increases its marginal revenue ________ and its marginal cost ________
A) changes; changes B) changes; does not change C) does not change; changes D) does not change; does not change
Refer to Figure 4-6. What area represents producer surplus at the equilibrium price of P1?
A) A + B + C + D + E B) A + B + D C) D + E D) D + E + G + H
How might unemployment insurance increase the efficiency of labor markets and the economy? How might it reduce the efficiency of labor markets and the economy?
What will be an ideal response?
What is the policy trilemma?
What will be an ideal response?