When Economic Choice Involves an Adjustment to an Existing Situation,marginal

question 101

Multiple Choice

When economic choice involves an adjustment to an existing situation,marginal analysis:

• A)has no practical applications or real-world uses.
• B)eliminates incorrect decisions and bad choices.
• C)involves comparing the additional costs and additional benefits of an activity before deciding.
• D)involves examining only the total costs and total benefits of an activity before deciding.
• E)guarantees an incorrect decision.

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Definitions:

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