1-A demand curve shows the graphical relationship between price and

costs.

revenues received

quantity demanded.

quantity produced.

2-Making an economically rational decision requires

considering all prospective marginal benefits and marginal costs to oneself.

none of the answers is correct

always considering the long-run.

equal consideration for your own and others’ welfare

3- Because of our limited money, time, and effort, we are best off when we allocate those things…

Question 21 options:

by choosing what society as a whole would want.

with the objective of maximizing opportunity costs.

by constantly assessing the opportunity costs of our choices.

none of the above