Both Optimization Using Total Value and Optimization Using Marginal Analysis

question 58

Multiple Choice

Both optimization using total value and optimization using marginal analysis ________.

• A) consider only the benefits from different alternatives
• B) consider only the costs incurred in different alternatives
• C) provide identical answers when comparing two alternatives
• D) require the calculation of the change in net benefits when switching from one alternative to another

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Definitions:

Language

A system of symbols, sounds, and rules used for communication and the expression of ideas, thoughts, and emotions.

Myelin

The fatty substance coating axons that speeds the transmission of nerve impulses from neuron to neuron.

Brain Function

The activities and processes that take place in the brain, including thought, memory, emotion, and motor skills.