Question: Those costs that increase or decrease as varying amounts of the resources are used. a. Variable costs b. Fixed costs c. Opportunity costs d. Explicit
Those costs that increase or decrease as varying amounts of the resources are used. a. Variable costs b. Fixed costs c. Opportunity costs d. Explicit costs 2 points QUESTION 40 Goods that a consumer will buy less of with an income increase. Explicit goods Inferior goods Normal goods Ramen 2 points QUESTION 41 The more of a product that a consumer gets, the less each additional unit is worth. a. Supply b. Law of Diminishing Marginal Utility c. Opportunity Costs d. Maximize
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