In economics, the marginal concept refers to producing or consuming a good at the margin of the total produced or consumed amount. Which question does not involve a marginal decision?
- Is it worth $2 to buy this extra slice of pizza?
- If I drive slightly faster, what will be the change in my gasoline consumption?
- If I hire ten workers to produce tables, what will be the average cost per table?
- If I study for one more hour, by how much will it raise my grade?
Answer
The correct answer is C) If I hire ten workers to produce tables, what will be the average cost per table?.
More Science & Technology questions
- In economics, opportunity cost is the difference between the yield that funds and resources earn in one use and the yield they could have earned had they been placed in an alternative investment. Which of these factors has the most impact on opportunity cost?
- Which of these statements about the effect of specialization and trade on the market is most accurate?
- In economics, the concept of opportunity cost is related to both the alternatives and decision-making. A friend offers you a Coke, a Pepsi, or a Diet Coke. You dont like Diet Coke, so after some thought, you take the Pepsi. In this case, what is the opportunity cost of your choice?
- It is generally accepted, that economic market systems have proved to be so stable and efficient for which of these reasons?
- What do we call the type of economy, where the government has an exclusive control over the production and distribution of goods and services?
- The oldest known aromatherapy text describes a medical practice which relied on aromatics. It is from the Sumerian period and approximately this old.