Suppose Jennifer derives $100 in marginal benefits from her first skiing trip and $80 from her third tri
A) more than $100.
B) between $100 and $80.
C) between $79 and $51.
D) less than $51.
E) some amount that cannot be calculated without additional information.
B
Economics
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Pursuing comparative advantage means
A) adding up the plusses and minuses after a transaction. B) doing it to the other person first. C) making equal, fair exchanges for equally valued goods or services. D) sacrificing something less valuable for the sake of something more valuable. E) seeking relative status rather than absolute welfare.
Economics
In the long run, in monopolistic competition
A) a firm's price equals its marginal cost. B) firms make an economic profit. C) firms make zero economic profit. D) Both answers A and C are correct.
Economics