If A and B are two disjoint sets, and "Pr" represents the probability, then Pr[A or B] will be:

The utility function captures

A) how consumers interact. B) how an individual consumer ranks consumption bundles. C) how output is produced from labor and capital inputs. D) how happy a consumer is about a given consumption bundle.

The giving up of a good or activity in order to obtain some other good or activity is called:

a. a tradeoff. b. a cost analysis. c. a random choice. d. an opportunity cost. e. a sunk cost.