When a State Government Chooses to Build More Roads,the Required

question 10

Multiple Choice

When a state government chooses to build more roads,the required resources are no longer available for spending on public education.This dilemma illustrates the concept of:

• A) marginal analysis.
• B) full employment.
• C) full production.
• D) opportunity cost.

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Definitions:

Bilateral Contract

A legal agreement where each party promises to perform an act in exchange for the other party's act.

Express Contract

A contract in which both parties accept mutual obligations through either oral discussion or written communication.

Web Page

A document on the World Wide Web that can contain text, images, links, and multimedia content, accessible through a web browser.

Mutual Assent

Mutual assent is a principle in contract law that states an agreement must involve a clear offer and acceptance between parties to be legally binding.