The opportunity cost of buying a good includes I. the price of the good. II. the value of time spent searching for the good

If the marginal social benefit exceeds the marginal social cost of producing the next kilowatt hour of electricity, then it is efficient to produce as many kilowatt hours as possible

Indicate whether the statement is true or false

Oil import restrictions were probably unwise, as they raised the price of domestic oil in the United States and reduced the long-term domestic supply of oil

Indicate whether the statement is true or false