According to economic theory, a politician
A) expands activities whose marginal benefit exceeds marginal cost.
B) contracts activities whose marginal cost exceeds marginal benefit.
C) does not necessarily act on narrow or selfish interests.
D) does all of the above.
E) does none of the above.
D
Economics
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If the total cost of production for 1000 widgets is $2000 and marginal cost is constant at $1, what is the average cost if 2000 widgets are produced?
A) $2 B) $1.50 C) $1 D) $0.50
Economics
Cross-price elasticity of demand is
A. negative for substitute goods. B. positive for general goods. C. negative for complementary goods. D. unitary for secondary goods.
Economics