Maximizing total benefits is equivalent to maximizing net benefits if and only if there are:
A. increasing costs associated with achieving more benefits.
B. constant marginal costs associated with achieving more benefits.
C. no costs associated with achieving more benefits.
D. decreasing costs associated with achieving more benefits.
Answer: C
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In its earliest years, the Federal Reserve's guiding principle for the conduct of monetary policy was known as the
A) real bills doctrine. B) liberal liquidity doctrine. C) free reserves doctrine. D) quantity theory of money.
The argument that many critics of free trade have suggested that genetic engineering of plants and animals could lead to accidental production of new diseases is the
A) national security argument. B) infant industry argument. C) protecting domestic jobs argument. D) environmental and safety argument.
Cheap labor is the source of comparative advantages
a. True b. False Indicate whether the statement is true or false
A Japanese firm exporting finished products to the United States will be a demander of U.S. dollars and a supplier of Japanese yen in the foreign exchange market
a. True b. False Indicate whether the statement is true or false