Which of the Following Statements Is FALSE

question 330

Multiple Choice

Which of the following statements is FALSE?

• A) The value of one more unit of a good is the good's marginal benefit.
• B) A good's marginal benefit is the maximum price people are willing to pay for another unit.
• C) The maximum price people are willing to pay for one more unit of a good is its value.
• D) None of the above because all the statements are true.

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Definitions:

Union Leaders

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Democratic Principles

Foundational beliefs that support government by the people, including rights like freedom of speech, equality before law, and fair elections.

Austerity Measures

Economic policies implemented by a government to reduce public expenditure in an attempt to control public debt.

New Public Management

An approach to running public service organizations that is inspired by private sector principles and practices, emphasizing efficiency, performance measurement, and a service-oriented culture.