Which of the following statements identifies a similarity between optimization in levels and optimization in differences?
A) Both techniques consider only the costs of different alternatives.
B) Both techniques consider only the total benefits of different alternatives.
C) Both techniques evaluate the total net benefit of different alternatives to arrive at a decision.
D) Both techniques require the conversion of all costs and benefits into a common unit of measurement.
Question 2
Pick the true statement, regarding the notion of competition as a process versus the model of perfect competition.
A) The process notion allows for full and complete information; perfect competition doesn't.
B) The process notion allows for price taking activity; perfect competition doesn't.
C) The process notion allows for identical products; perfect competition doesn't.
D) The process notion allows for a small number of participants; perfect competition doesn't.
E) All of the above are true.
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