If Project A has a cost of $5, and a provides a benefit of $10, and Project B has a cost of $2, and provides benefit of $4, then switching from Project A to Project B:
A) increases the net benefit by $3.
B) decreases the net benefit by $3.
C) increases the net benefit by $6.
D) decreases the net benefit by $6.
B
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By definition, in the typical firm's short-run production function all inputs are fixed in amount
Indicate whether the statement is true or false
The supply of labor in the classical system is a function of the
a. marginal product of labor. b. real wage. c. the public's preference for leisure. d. money wage. e. b and c
In the figure shown,
A. there is a trade balance, because the world price level equals the domestic price level. B. there is a trade deficit because of globalization. C. there is a trade surplus, because actual output equals potential output. D. the country isn't exporting or importing because world and domestic prices are equal.
A movie theater raises ticket prices from $12 to $14 in order to raise revenues. The theater's management is assuming the absolute value of the price elasticity of demand for tickets is
A. equal to 1. B. less than 1. C. infinity. D. greater than 1.