Which Statement Is True

question 144

Multiple Choice

Which statement is true?

• A) For demand, marginal benefit increases as you buy more.
• B) For supply, marginal benefit is measured in the opportunity cost of your time.
• C) For demand, marginal benefit is measured in dollars.
• D) For supply, marginal benefit is measured in dollars.
• E) For supply, marginal cost decreases as you supply more.

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Definitions:

Costs

Expenses incurred in the process of producing or acquiring goods and services, including materials, labor, and overhead.

Depreciation

A method of allocating the cost of a tangible or physical asset over its useful life.

Sales

The activity or business of selling goods or services.

Minimum Bid Price

The lowest price at which a seller is willing to sell an asset in an auction or market.