Which of the Following Is NOT True

question 64

Multiple Choice

Which of the following is NOT true?

• A)Resources are scarce when they can satisfy everyone's wants.
• B)The real cost of a choice is what you must give up to enjoy that choice.
• C)People typically make choices that will make them better off.
• D)Rational people use marginal analysis when making "how much" decisions.

Assess how market concentration ratios indicate the level of competition within an industry.

Investigate factors that influence a firm’s elasticity of demand.

Examine the long-term changes in monopoly power and how it affects market dynamics.

Explore the impact of monopolies on consumer and producer surplus as well as on overall welfare.