To say that people make decisions at the margin means that:
a. wait until the last minute before making a decision.
b. weigh the additional costs and additional benefits of small changes.
c. make decisions that determine whether or not they will live their lives on the edge of subsistence.
d. make decisions on issues that are relatively unimportant for their economic well-being.
b. weigh the additional costs and additional benefits of small changes.
Economics
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If a production function has constant returns to scale, then if all inputs double so does production
a. True b. False Indicate whether the statement is true or false
Economics
Which of the following best describes the movement from E1 to E2?
a. a decrease in supply b. an increase in supply c. a movement along the supply curve d. a decrease in demand
Economics