While making a purchase decision using marginal thinking, a buyer should buy the good that yields the:
A) highest marginal benefit per dollar spent.
B) lowest marginal benefit per dollar spent.
C) highest average benefit plus marginal benefit per dollar spent.
D) lowest average benefit plus marginal benefit per dollar spent.
A
Economics
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Since 1960, the price of medical care in the United States has
A) decreased slightly. B) remained relatively unchanged. C) increased 8-fold. D) increased 19-fold.
Economics
Among a set of alternatives with the same benefits, an individual is said to optimize if she chooses an alternative that:
A) has the lowest total cost. B) has the highest total cost. C) has the highest indirect cost. D) has the lowest opportunity cost.
Economics