The marginal benefit Kyra gets from eating a second sandwich is
a. the total benefit Kyra gets from eating two sandwiches minus the total benefit she gets from eating one sandwich.
b. the same as the total benefit she gets from eating two sandwiches.
c. less than the marginal cost of eating the second sandwich since she chose to eat the second sandwich.
d. the total benefit Kyra gets from eating three sandwiches minus the total benefit she gets from eating two sandwiches.
a
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If your income goes up by 10% and you increase your pedicures by 5%, then your demand for pedicures is ________.
A. income elastic B. income inelastic C. income unit elastic
An economy in which output has decreased and prices have decreased would suggest a:
A. decrease in short-run aggregate supply. B. increase in aggregate demand. C. increase in short-run aggregate supply. D. decrease in aggregate demand.