Researchers Who Study the Application of Neuroscience to Economics Are

question 38

Multiple Choice

Researchers who study the application of neuroscience to economics are known as

• A) brain surgeons
• B) mad monkey doctors
• C) neuroeconomists

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Definitions:

Optimal Quantity

The amount of a good or service that yields the maximum economic benefit or utility.

Cost-Benefit Analysis

A comparison of the marginal costs of a project or program with the marginal benefits to decide whether or not to employ resources in that project or program and to what extent.

Marginal Cost

The additional expense incurred from creating an extra unit of a product, emphasizing how production costs change with the level of output.

Marginal Benefit

The supplementary value or advantage gained by using or generating one more quantity of a good or service.