The highest valued alternative that must be given up to engage in an activity is the definition of
A) marginal cost. B) marginal benefit. C) opportunity cost. D) economic equity.
C
You might also like to view...
An increase in the interest rate will ________.
A. cause a move down along the money supply curve B. cause a move up along the money supply curve C. shift the money supply curve to the left D. shift the money supply curve to the right
Consider the following short-run production function: q = 5 - 1/3 . At what level of L do diminishing marginal returns begin? At what level of L do diminishing returns begin?
What will be an ideal response?
If a nation imports more than it exports, then its net exports are:
a. positive. b. negative. c. zero. d. unstable.
Suppose that consumption spending is $4,200 billion, spending on durable goods is $1,200 billion, and spending on services is $2,000 billion. What does spending on nondurable goods equal?
A) $7,200 billion B) $1,000 billion C) $2,200 billion D) $3,200 billion E) There is not enough information to answer this question.