Marginal Costs Exist Because

question 45

Multiple Choice

Marginal costs exist because:

• A)the decision to produce more of some product means the sacrifice of other products.
• B)wants are scarce relative to resources.
• C)households and businesses make rational decisions.
• D)most decisions do not involve sacrifices or tradeoffs.

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Definitions:

Atmosphere

The layer of gases surrounding a planet or moon, held in place by gravity, essential for life on Earth.

Phosphorus

A chemical element that plays a vital role in biological processes such as energy transfer, genetic information processing, and bone formation.

Phosphorus

A reactive, nonmetallic chemical element with the symbol P, essential for life, playing a key role in cellular energy transfer and nucleic acid synthesis.

Sedimentary Rock

Rock formed from the accumulation and compaction of mineral and organic particles on the Earth's surface, often containing fossils.