To make a rational choice, a person
A) adds the total costs to determine if the total is small enough.
B) adds the total benefits and the total costs and then compares the two totals.
C) takes account of all benefits and all opportunity costs, including both marginal costs and sunk costs.
D) adds the total benefits to determine if the total is large enough.
E) compares the extra benefits of one more unit to the extra costs of one more unit.
Question 2
If the number of wine producers decreases
A) the supply of wine increases. B) the supply of wine decreases.
C) the demand for wine decreases. D) the demand for wine increases.