If there is no scarcity,
A) choices are no longer rational.
B) all marginal benefits would equal zero.
C) the opportunity cost of an action would be greater than its sunk cost.
D) marginal cost of an action is greater than its marginal benefit.
E) an action would have zero opportunity cost.
E
Economics
You might also like to view...
ABC Company is currently producing 450 units of output. The output is sold in a perfectly competitive market at a price of $35 . The marginal cost of the 450th unit is $38
Is ABC Company producing at the profit-maximizing level of output? Explain.
Economics
If total Fed assets __________, then reserves have to __________, everything else being equal
A) fall; rise B) rise; fall C) fall; fall D) None of the above.
Economics