Sailing an ocean cargo ship slower to save on the expense of fuel as opposed to sailing it faster to save time and therefore allow it to make more deliveries makes sense if the ________ of sailing slower is less than the ________ of sailing slower
A) marginal benefit; opportunity cost B) marginal cost; opportunity cost
C) marginal benefit; marginal cost D) marginal cost; marginal benefit
D
Economics
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What is the distinction between nominal GDP and real GDP?
What will be an ideal response?
Economics
A zero economic profit is not a bad thing because:
a. it is a situation in which the owners, or shareholders, of a firm could not do better elsewhere. b. it is a situation in which the resources of a firm are always optimally utilized. c. it means that a firm is paying an interest rate that is below the market rate. d. it means that stock prices will not fall. e. it means that investors are better off in the current venture than they would be in any other investment.
Economics