Making rational decisions \"at the margin\" means that people Select one a.compa

Question

Making rational decisions "at the margin" means that people Select one a.compare the marginal costs and marginal benefits of each decision. b. make those decisions that do not impose a marginal cost. O c. evaluate how easily a decision can be reversed if problems arise d. always calculate the marginal dollar costs tor each decision. Efticiency means that Select one # .society is conserving resources in order to save them for the tuture b society's goods and services are distributed equally among society's c, society's goods and services are astributed fairy, though not necessarily equally, among society's members d society is getting the maximum benefts trom its scarce resources. Which of the following principles is not one of the four principles of ndwidual deoisionmaking? Select one . People tace tredeoffs %b. Trade can make everyone better off c. Pecple respond to incentives d.Rational people think at the margin Finish Attempt...

Explanation / Answer

1) People face trade-off

2) The cost of something is what you gave up to get it

3) Rational people think at the margin

4) People respond to the incentive

Therefore option b is correct

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