You are at an all-you-can-eat-buffet. You feel almost full. However they just brought out your favorite dessert and you can either choose to eat that or a helping of tapioca pudding. If you choose the cupcakes, the pudding would be your
a. Opportunity cost
b. Variable cost
c. Fixed cost
d. Sunk cost
a
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Suppose the government is considering whether to build a community health clinic. If the government wants to increase total economic surplus, then it should build the health clinic if the marginal benefit of the health clinic is:
A. greater than zero. B. decreasing. C. less than its marginal cost. D. greater than its marginal cost.
By definition, disposable income is equal to
A) consumption minus saving. B) consumption plus saving. C) consumption plus investment. D) investment plus saving.
When marginal tax rates are constant,
A. the change in taxes paid is the same as the change in income. B. the change in taxes paid is greater than the change in income. C. the change in taxes paid is less than the change in income. D. there are no taxes. E. none of these answer options are correct.
If Happy Avocados, a ready-made guacamole manufacturer, purchases an avocado farm, this is an example of ________.
A) outsourcing B) backward integration C) divestiture D) forward integration