A person should consume more of something when its marginal
A. cost exceeds its marginal benefit.
B. benefit is positive.
C. benefit exceeds its marginal cost.
D. cost equals its net marginal benefit.
Answer: C
Economics
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It is impossible to have economic growth unless a country or a region has abundant natural resources to sustain the growth
a. True b. False Indicate whether the statement is true or false
Economics
The neighborhood ice cream shop finds that when it charges $3 per ice cream cone, its total revenues are $90,000. It has total variable costs of $30,000 and total fixed costs of $40,000. From this we can infer the:
A. shop sells 10,000 ice cream cones. B. price is less than average total cost. C. economic profits are $20,000. D. shop will be closed in the long run.
Economics