due to the scarcity of resources. a. People cannot satisfy all their wants O b. There is a lack of consumer sovereignty Oc. The marginal benefit from an action always exceeds its marginal cost O d. The marginal cost of an action always exceeds its marginal benefit

due to the scarcity of resources. a. People cannot satisfy all their wants O b. There is a lack of consumer sovereignty Oc. The marginal benefit from an action always exceeds its marginal cost O d. The marginal cost of an action always exceeds its marginal benefit

Principles of Microeconomics

7th Edition

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter22: Frontiers Of Microeconomics

Section: Chapter Questions

Problem 6PA

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Question

which one seems to be correct? what does scarcity in economics?

due to the scarcity of resources.
a. People cannot satisfy all their wants
O b. There is a lack of consumer sovereignty
Oc. The marginal benefit from an action always exceeds its
marginal cost
O d. The marginal cost of an action always exceeds its
marginal benefit

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