Which of the Ten Principles of Economics does welfare economics explain more fully?
a. The cost of something is what you give up to get it.
b. Rational people think at the margin.
c. Markets are usually a good way to organize economic activity.
d. People respond to incentives.
c
Economics
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In setting their prices, price searcher firms ignore
A) demand. B) marginal cost. C) the prices of competitors. D) all of the above. E) none of the above.
Economics
The labor force includes
A) only the number of people employed. B) discouraged workers. C) only the number of people unemployed. D) both employed and unemployed workers.
Economics