Marginal cost is the ________ associated with a particular increase in an activity.
A) additional cost B) opportunity cost C) forgone cost D) total cost
Question 2
The income effect of a price change results in a
A) movement along the demand curve due to a change in relative prices.
B) shift of the demand curve when income changes.
C) shift of the demand curve due to a change in purchasing power brought about by the price change.
D) movement along the demand curve due to a change in purchasing power brought about by the price change.
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