When Economic Choice Involves an Adjustment to an Existing Situation

question 138

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)none of the above

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Definitions:

Refractory Period

The period immediately following a stimulus, during which a nerve or muscle is unresponsive to a subsequent stimulus.

Excitement Stage

The initial phase of the human sexual response cycle, characterized by physiological arousal and preparation for sexual activity.

Chain Migration

A social process by which migrants from a particular town follow others from that town to a specific destination.

Immigrants

Individuals who move from one country to another with the intent of residing there permanently or for an extended period.