Which of the Following Decisions Would NOT Be Part of Microeconomics

question 92

Multiple Choice

Which of the following decisions would NOT be part of microeconomics?

• A) What university major to select.
• B) How to make the largest profit.
• C) Whether to study or watch TV tonight.
• D) How will an early frost in Prince Edward Island affect the price of potatoes.
• E) Should the federal budget always be balanced.

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Definitions:

Selling Price

The amount of money for which a product or service is sold to the customer, which may include costs and markup.

Mark-up

Mark-up refers to the difference between the cost of a good or service and its selling price, expressed as a percentage over the cost.

Cost

Represents the amount of money required to purchase something or the expense associated with creating a product or service.

Sale Price

The final price at which an item or service is sold, after any discounts or adjustments are applied.