Value Is Created If a Project's

question 10

Multiple Choice

Value is created if a project's

• A)incremental costs exceed incremental benefits.
• B)incremental costs equal incremental benefits.
• C)incremental benefits exceed incremental costs.
• D)none of the above.

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Definitions:

Producer Surplus

The difference between what producers are willing to accept for a good or service versus what they actually receive.

Tariff

A tax imposed by a government on imported or exported goods.

Trade

The exchange of goods and services between individuals or entities, often in exchange for money.

Tariff

A tax imposed on imported goods and services, aimed at making foreign products more expensive and protecting domestic industries.