When Actions Are Finely Divisible Marginal Benefit Is ______ Marginal

question 45

Multiple Choice

When actions are finely divisible marginal benefit is ______ marginal cost at an interior best choice.

• A) Greater than
• B) Less than
• C) Equal to
• D) Greater than or equal to

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Definitions:

Normative Statement

A statement that expresses a value judgment or opinion, indicating what ought to be rather than what is empirically observable.

Unemployment Rate

The percentage of the labor force that is jobless and actively seeking employment.

Positive Economics

The branch of economics that focuses on factual and cause-and-effect relationships, avoiding value judgments about what ought to be.

Prescriptions

Authorized orders for medication given by a licensed healthcare professional, allowing a patient to be provided medicine.