Decision making on the margin involves
A) comparing the marginal cost and marginal benefits when making a decision.
B) comparing the total cost and the total benefit when making a decision.
C) eliminating the additional cost when making a decision.
D) determining the total benefits of a decision.
E) comparing the benefits from the social interest to the benefits from the person's self-interest.
A
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Suppose a business is paying less than W E to its employees. How would this affect unemployment?
a. There would be no unemployment because demand would exceed supply, meaning
all workers would have a job.
b. There would be no unemployment because lower wages would mean that there are
more positions open.
c. There would still be unemployment because many workers would refuse to work for
such a low wage.
d. There would still be unemployment because there would not be enough jobs for all of
the available workers.
After the First World War, Germany experienced an economic condition that can be best described as:
A. unanticipated inflation. B. cost-push inflation. C. hyperinflation. D. anticipated inflation.