Sunk costs are irrelevant to economic decisions because
A) they are merely opportunity costs rather than monetary expenditures.
B) they cannot affect a firm's net revenue.
C) they do not appear on financial statements.
D) they represent no opportunity for choice.
D
Economics
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Assume that peanut butter and jelly are complementary goods. A decrease in the number of peanut butter suppliers will cause the:
a. demand for peanut butter to increase. b. supply of peanut butter to increase. c. demand for jelly to increase. d. demand for jelly to decrease. e. supply of jelly to decrease.
Economics
The welfare program economists believe to be most compatible with economic efficiency is
a. a regressive tax system. b. AFDC. c. a negative income tax. d. Medicare/Medicaid.
Economics