Government policies can change the costs and benefits that people face. Those policies have the potential to
a. alter people's behavior.
b. alter people's decisions at the margin.
c. produce results that policymakers did not intend.
d. All of the above are correct.
d
Economics
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When marginal cost is below average total cost,
a. total cost is falling b. average total cost is rising c. average total cost is falling d. average fixed cost is rising e. total variable cost is falling
Economics
The accompanying graph depicts demand.
The price elasticity of demand at point A is:
A. 2/5. B. 5/8. C. 8/5. D. 5/2.
Economics