Among a set of alternatives with the same benefits, an individual is said to optimize if she chooses an alternative that:
A) has the lowest total cost.
B) has the highest total cost.
C) has the highest indirect cost.
D) has the lowest opportunity cost.
A
Economics
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What is the great advantage of adjudication over legislation in the management of negative externalities?
A) Adjudication has lower costs. B) Adjudication maintains the continuity of expectations. C) Courts are bound by the rule of law and legislatures are not. D) Courts can act more quickly than legislatures. E) There are no clear answers in such cases.
Economics
Refer to Figure 12-9. At price P1, the firm would
A) lose an amount less than fixed cost. B) lose an amount equal to its fixed cost. C) lose an amount more than fixed cost. D) break even.
Economics