A ________ curve shows the marginal cost of producing one more unit of a good or service
A) marginal benefit B) production possibilities
C) supply D) demand
C
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Consider gardening books. What will happen to the market for these books as gardening becomes more popular and simultaneously printing costs increase?
A) The price of gardening books definitely increases. B) The quantity of gardening books definitely increases. C) The price of gardening books might increase or decrease. D) The quantity of gardening books definitely stays the same.
The economic role of the legal system might best be described as
A) promoting the productive efficiency of competitive markets. B) identifying and producing public goods. C) establishing the "rules of the game" and acting as a referee when disputes arise among market participants. D) identifying and producing merit goods.