The Rational Rule for Sellers involves applying only the marginal principle. O only the opportunity cost principle. O only the cost-benefit principle. the marginal principle, the cost-benefit principle, and the opportunity cost principle.

The Rational Rule for Sellers involves applying only the marginal principle. O only the opportunity cost principle. O only the cost-benefit principle. the marginal principle, the cost-benefit principle, and the opportunity cost principle.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter2: Choice In A World Of Scarcity

Section: Chapter Questions

Problem 19CTQ: Suppose Alphonsos town raises the price of bus tickets from 0.50 to 1 and file price of burgers...

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The Rational Rule for Sellers involves applying
O only the marginal principle.
O only the opportunity cost principle.
O only the cost-benefit principle.
O the marginal principle, the cost-benefit principle, and the opportunity cost principle.

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An owner of a landscaping business received extra income in the previous month. She is considering eitner buying a new lawnmower or spending the money on an advertisment in order to increase business in the next few months If the business owner chooses to spend the money on an advertising campaign, what is the opportunity cost? O A. more advertising O B. next month's income O C. the lawnmower O D. increased business
Marginal cost is the one more unit of a good and opportunity cost of producing increases as production O price that must be paid to consume; decreases as consumption O opportunity cost of producing: decreases as production O price that must be paid to consume; increases as consumption of the good increases.
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Marc has a budget of $12 a month to spend on root beer and DVDS. The price of root beer is $3 a bottle, and the price of a DVD is $3. What is the relative price of root beer in terms of DVDS and what is the opportunity cost of a bottle of root beer? The relative price of root beer in terms of DVDS is O A. 1.0 DVD per bottle O B. 3.0 bottles of root beer OC. $12 O D. $3 The opportunity cost of a bottle of root beer is O A. 1.0 bottle of root beer O B. 1.0 OC. 4 DVDS O D. $3
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I need answer typing clear urjent no chatgpt i will give 5 upvotes
E D A B Refer to the diagram. Assume that the horizontal axis measures the quantity of a good and the vertical axis measures the marginal-benefit and marginal- cost of the good. Assuming that the good represented here has at least some positive benefits and costs, what can we conclude about the marginal- benefit and marginal-cost curves? Multiple Choice О There is no combination of curves shown that could represent the optimal allocation of resources to this good.
Which of the following statements is correct? Select one: O a. TU is the rate of change of MU. O b. Economists use "utility" to only talk about how practically useful an item is to a person. O c. MU can never have a value of zero. O d. MU is a producer concept. O e. MU is the slope of the TU curve.
It shows the different combinations that the consumers can purchase from good [X] and [Y), given the income and the prices of the two goods. O a. Demand Curve O b. Budget line O c. Indifference curve O d. Supply Curve e. No correct answer
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