Saying "the marginal costs are greater than the marginal benefits" is the same as saying the...
Saying "the marginal costs are greater than the marginal benefits" is the same as saying
the average costs are greater than the average benefits.
the total costs are greater than the average benefits.
the benefits are greater than the costs.
the additional costs are greater than the additional benefits.
the costs minus the benefits equal the net costs.
next question
It usually takes less time to buy a six-pack of 7-Up, a loaf of bread, and a half-gallon of ice cream at a small convenience store (such as a 7-Eleven) than at a large, full-service grocery store. Which of the following persons is most likely to buy these items at a convenience store?
a person with a high opportunity cost of time
a person with a low opportunity cost of time
a person who is out of work
a person who works at a full-service grocery store
Homework Answers
Ans) the correct option is the additional costs are greater than the additional benefits.
Ans) the correct option is a person with high opportunity cost of time
A person who has the high opportunity cost will have the greater value for time so he will prefer to shop in less time
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Saying "the marginal costs are greater than the marginal
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