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The Use of Seatbelts and Airbags in Automobiles Is an Example

question 12

Multiple Choice

The use of seatbelts and airbags in automobiles is an example of:


Definitions:

Marginal Expenditure Curve

Curve describing the additional cost of purchasing one additional unit of a good.

Factor of Production

An economic resource that is used to produce goods and services, including land, labor, capital, and entrepreneurship.

Average Expenditure Curve

Supply curve representing the price per unit that a firm pays for a good.

Substitution Effect

The change in consumption resulting from a change in price, causing consumers to substitute cheaper goods for more expensive ones.

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