The overriding reason why households and societies face many decisions is that
a. resources are scarce.
b. goods and services are not scarce.
c. incomes fluctuate with business cycles.
d. people, by nature, tend to disagree.
a
Economics
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Both optimization in levels and optimization in differences:
A) consider only the benefits from different alternatives. B) consider only the costs incurred in different alternatives. C) provide identical answers when comparing two alternatives. D) require the calculation of change in net benefits of switching from one alternative to another.
Economics
If the average total cost and marginal cost are equal at a value of $30 and a quantity of 20,000, then the total cost increases with the production of one more unit
Indicate whether the statement is true or false
Economics