According to economic theory, a politician
A) expands activities whose marginal benefit exceeds marginal cost.
B) contracts activities whose marginal cost exceeds marginal benefit.
C) does not necessarily act on narrow or selfish interests.
D) does all of the above.
E) does none of the above.
Question 2
Which of the following statements is true about the mean of a series?
A) The mean is equal to zero when all the values are identical.
B) The mean is a commonly used technique for summarizing data.
C) The mean is less than all the individual observations in the data set.
D) The mean is calculated as the sum of all values multiplied by the number of values.
A graphical representation of the marginal value theorem.
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