What does "there is no such thing as a free lunch" mean in economics?

A. Sometimes people may take friends out to lunch and pay for them.
B. All items in the lunch menu have specific prices.
C. Products only have value because people are willing to pay for them.
D. Scarce resources are used up to provide "freebies" and giveaways.

Answer: D

Economics

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Indifference curves typically a. cross each other

b. have a positive slope. c. are convex from the origin. d. are concave from the origin.

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Refer to the below table. What percentage of households made $50,000 or more?


A. 35

B. 49

C. 51

D. 65

Economics