If the newspaper reported that wearing plaid clothing was a sure way to obtain good grades, students'
A) budget lines would shift rightward to compensate for the higher price of plaid clothing.
B) budget lines would rotate so that more plaid clothing would be purchased.
C) preferences would change in favor of more plaid clothing.
D) none of the above
C
Economics
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Marginal cost:
a) is always less than price. b) is the minimum price a producer to cause him to offer one more unit of a good for sale. c) decreases as more is produced. d) may be negative. e) is greater than price
Economics
Refer to Table 17-2. The marginal profit from hiring the second unit of labor is
A) $4,200. B) $1,960. C) $1,800. D) $1,450.
Economics