Discuss what is necessary to make rational decisions. Be sure to mention opportunity cost, marginal cost, and marginal benefit
What will be an ideal response?
Economists assume that people act rationally, making choices in increments and comparing marginal costs and benefits. Costs are measured as opportunity cost, which is the value of the best thing that must be given u
Economics
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At a business cycle peak, we usually have ________ real Gross Domestic Product
A) an all-time high level of B) an all-time low level of C) an historically average level of D) accelerating growth of E) the maximum growth rate of
Economics
The slope of the budget line that expresses the tradeoff between risk and return for an asset can be represented by
A) (Rf - Rm)/?m. B) (Rm - Rf)/?m. C) Rm - Rf. D) b.
Economics