The principle of decreasing marginal benefit implies that the
A) additional benefit from obtaining one more of a good or service decreases as more is consumed.
B) additional benefit from obtaining one more of a good or service increases as more is consumed.
C) total benefit from obtaining more of a good or service decreases as more is consumed.
D) total benefit from obtaining more of a good or service remains the same as more is consumed.
A
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Thomas Jefferson supported the Land Ordinances of 1785 and 1787
Indicate whether the statement is true or false
Data on the unemployment rate in the U.S. since 1960 show that the unemployment rate sometimes is close to zero
a. True b. False Indicate whether the statement is true or false
The antitrust laws are based on the:
A. creative destruction view of competition. B. idea that competition leads to greater economic efficiency than does a monopoly. C. view that nonprice competition should be strictly regulated by government. D. view that all negative externalities should be eliminated by government action.
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, as the economy moves from Point E to Point A, the opportunity cost of hybrid cars, measured in terms of motorcycles
A. increases. B. initially increases, then decreases. C. decreases. D. remains constant.