Multiple Choice
Mitch has $100 to spend and wants to buy either a new amplifier for his guitar or a new mp3 player to listen to music while working out.Both the amplifier and the mp3 player cost $100,so he can only buy one.This illustrates the basic concept that
A) trade can make everyone better off.
B) people face trade-offs
C) rational people think at the margin.
D) people respond to incentives.
Correct Answer:
Verified
Correct Answer:
Verified
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