Author Question: Which economic concept is illustrated by the saying You can't have your cake and eat it too? a. ... (Read 83 times)

DelorasTo · **on:** Jun 30, 2018

Which economic concept is illustrated by the saying You can't have your cake and eat it too?
a. Private property rights
b. Economic freedom
c. Scarcity
d. Opportunity cost
e. Gains from trade

Question 2

The marginal cost of a vacation in the south of France is 4,500 . The marginal benefit to Madeline of a vacation in the south of France is 4,800.
a. Madeline will lose 300 if she vacations in the south of France.
b. Madeline will experience a net gain of 300 if she vacations in the south of France.
c. Madeline will be worse off if she vacations in the south of France.
d. Madeline will enjoy a net gain of 4,800 if she vacations in the south of France.