Because resources are scarce, economists would say that
A) people's wants are unlimited.
B) anything worth doing is worth doing well.
C) every choice has an opportunity cost.
D) there are no benefits from cooperation.
E) the best things in life are always free.
C
Economics
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The interest rate banks charge each other on loans of reserves is called the
A) required reserve rate. B) discount rate. C) real interest rate. D) coupon rate. E) federal funds rate.
Economics
In the figure above, if the firm is regulated using a marginal cost pricing rule, the deadweight loss created is equal to the area of
A) ABG. B) BEFG. C) BCFG. D) BCE. E) None of the above because there is no deadweight loss created.
Economics