An information is beneficial to the decision-maker only when:
a. its marginal cost is zero.
b. its marginal benefits exceeds its marginal cost.
c. the possibility of inaccurate transmission is nullified.
d. its marginal benefit is positive.
B
Economics
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Which factor does not affect the elasticity of demand for a good?
(A) The importance of the good to the consumer. (B) The availability of substitute goods. (C) The consumer's perception of the good as necessity or luxury. (D) An increase in population.
Economics
The international agreement signed in 1947 to promote world trade by reducing tariffs and other barriers to international trade was called
A) GATT. B) NAFTA. C) WTO. D) Bretton-Woods agreement.
Economics