In trying to determine the "true cost" of some debated proposal,

A) actions have no true cost, only benefits.
B) actions will entail different costs for different people.
C) the costs of actions must ultimately be the same for everyone.
D) there is no difference between costs and benefits.

B

Economics

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The change in total revenue divided by the change in quantity of labor employed is the

a. marginal physical product of labor b. marginal revenue product of labor c. price of the output d. demand for the output e. wage rate

Economics

When a purely competitive firm is in long-run equilibrium:

A. marginal revenue exceeds marginal cost. B. price equals marginal cost. C. total revenue exceeds total cost. D. minimum average total cost is less than the product price.

Economics