When making a rational decision which requires the consideration of costs and benefits involved, the opportunity cost of a decision is often not taken into consideration when indeed it should be

The main reason people hold money is that

A) money is intrinsically valuable. B) money is used to buy goods and services. C) money is power. D) money provides a standard of value.

The small-country monopolist's free-trade equilibrium occurs:

a. where MC = MR, where MR is declining and below price. b. at the "world" price, which becomes a perfectly elastic demand curve for the monopoly firm and the firm's marginal cost curve. c. where the home demand is completely satisfied by foreign importers. d. at minimum marginal cost.