The ________ states that things with the greatest value in use frequently have little or no value in exchange.

Utilitarianism is the idea that only

A) competition brings efficiency. B) efficiency brings equality. C) income equality is fair. D) efficiency is fair.

A production possibilities curve that is a straight line represents the case of

A) constant costs. B) increasing costs. C) decreasing costs. D) constant opportunity costs but increasing real costs. E) constant opportunity costs but decreasing real costs.