In most cases, optimization in differences is faster and easier than optimization in levels because:
A) the former involves fewer steps to arrive at a conclusion.
B) the former only focuses on the key differences between options and ignores things in common.
C) the former focuses only on the benefits of an option, ignoring all calculations involving costs.
D) the former uses simpler arithmetic tools in comparison to the latter.
B
You might also like to view...
The economic problem of scarcity
a. is unique to a capitalist economy. b. requires that choices be made among alternatives. c. disappears as technology advances. d. affects only less-developed countries.
When a firm is operating in a price-taker market, marginal revenue will always equal
a. average total cost. b. one minus the elasticity of the market demand curve. c. total revenue. d. price.
If U.S. imports of goods and services exceed exports, U.S.:
A. net exports are positive. B. GDP is less than the sum of consumption, investment, and government purchases. C. GDP exceeds the sum of consumption, investment, and government purchases. D. GDP equals the sum of consumption, investment, and government purchases.
Which of the following is not an advantage of starting a new business as a partnership?
A) The owners have complete control over the business. B) A partnership has few government rules and regulations to comply with. C) Business profits are only taxed once, not twice. D) A partnership can easily attain additional funding.