In Principle,we Can

question 56

Multiple Choice

In principle,we can

• A)ignore positive statements when choosing among various public policy alternatives.
• B)ignore normative statements when choosing among various public policy alternatives.
• C)confirm or refute positive statements by examining evidence.
• D)confirm or refute normative statements by examining evidence.

---

Definitions:

Quantities

The amounts or levels of a good or service that are produced, offered, or consumed.

Demand Curve

A graphical representation of the relationship between the price of a good or service and the quantity demanded for a given period.

Constant Marginal Cost

A situation where the cost of producing an additional unit of output is the same, regardless of how many units are produced.

Profit-Maximizing

A strategy or point where a firm adjusts its production to achieve the highest possible profit, considering its costs and the market demand.