If You Take an Additional Class This Term,you Can Graduate

question 43

Multiple Choice

If you take an additional class this term,you can graduate earlier.This is an example of

• A)opportunity cost.
• B)total cost.
• C)the pursuit social interest.
• D)marginal benefit.
• E)social cost.

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Definitions:

Equilibrium Price

The price at which the quantity of a good or service demanded equals its supply in the market, leading to economic balance.

Demand for DVDs

The desire of consumers to purchase digital versatile discs (DVDs), which is influenced by factors such as price, income levels, and the availability of alternative media.

Market for Corn

The economic market where corn is bought and sold, with its price determined by the principles of supply and demand.

Price

The amount of money required to purchase a good or service.