Decisions Made "At the Margin" Require

question 7

Multiple Choice

Decisions made "at the margin" require

• A)comparing the benefits and costs of the next, or incremental, of consuming a good or service
• B)comparing the total benefits and costs of a consuming a good
• C)comparing the total benefits and the net costs of consuming a good
• D)comparing the net benefits and total costs of consuming a good

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Definitions:

Immediate Repair

The quick correction of a mistake or misunderstanding in conversation, usually by the person who made the error.

Latent Function

Unintended, unrecognized consequences of actions that help a social system maintain equilibrium.

Educational Institutions

Places where educational services are provided, ranging from schools and colleges to universities, involved in imparting knowledge, skills, and academic qualifications.

Mass Schooling

The system of providing formal education to large groups of the population, typically through public schools.