Give an example, not similar to the text material, where you made a decision based on your private costs only, and should have made a different decision if all costs had been considered.
What will be an ideal response?
Answers may vary.
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The rights of state and local government to regulate, license and control businesses were taken away after the American Revolution
Indicate whether the statement is true or false
The hyperinflation of the Revolutionary War period was in part caused by the issuance of paper money with a face value in ______ of dollars
a. millions b. tens of millions c. hundreds of millions d. billions of dollars
The opportunity cost of a particular activity
a. is the same for everyone pursuing this activity b. may include both monetary costs and forgone income c. always decreases as more of that activity is pursued d. usually is known with certainty e. measures the direct benefits of that activity
If the Russian ruble depreciates relative to the U.S. dollar, Russian steel becomes more expensive for American firms to purchase.
Answer the following statement true (T) or false (F)