In the above figure, if the price of pizza falls, the budget line
A) rotates outward and becomes steeper.
B) shifts leftward and its slope does not change.
C) shifts rightward and its slope does not change.
D) rotates inward and becomes flatter.
A
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Every choice has a cost
a. True b. False Indicate whether the statement is true or false
Which of the following is the study of economic policy recommendations?
a. positive economics b. law and economics c. microeconomics d. development economics e. normative economics
The marginal product curve:
A. typically decreases at low levels of input, but increases as input increases. B. shows how many extra outputs are created with each additional input. C. cannot be negative, since total output cannot be negative. D. None of these is true.
A market transaction causes an externality if someone
A. directly involved in the transaction receives uncompensated benefits or costs from it. B. not directly involved in the transaction receives uncompensated benefits or costs from it. C. directly involved in the transaction seeks legal assistance to ensure that the transaction is carried out. D. not directly involved in the transaction interferes in it by imposing regulations or product standards.