When the Calgary City Manager Faces a Complaint That the City

question 152

Multiple Choice

When the Calgary city manager faces a complaint that the city council chamber podium is not accessible to individuals with disabilities,he responds that the $1 million improvement will not happen because "that money could be spent building 70 curb ramps." Which economic principle does this statement BEST represent?

• A) Markets move toward equilibrium.
• B) The true cost of something is its opportunity cost.
• C) "How much" is a decision at the margin.
• D) When markets don't achieve efficiency,government intervention can improve society's welfare.

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Definitions:

Interference

A phenomenon in memory where the learning of new information hampers the ability to recall previously learned information.

Traumatic

Pertaining to or involving an experience that is emotionally distressing or shocking, often leading to lasting psychological effects.

Generalized Competition

Refers to a broad or wide-ranging rivalry or contest across various fields or between entities not limited to specific categories.