MULTIPLE CHOICE

1)Which of the following statements is/are reflecting decision-making on the margin?

Group of answer choices

A) The total cost of the program is equal to the total benefits.

B) If we double the order to a dozen doughnuts, we will pay only twenty percent more.

C) One more day in this cottage will be nice, but how much will the cost of the rental rise?

2)Scarcity is imposed on individual households in the form of

Group of answer choices

A) utility.

B) the prices of the goods that we may purchase.

C)income (budget) limitations.

3)Suppose that there are only two types of output in North Korea: nuclear missiles and consumer goods. All else constant, as the nation produces more missiles

Group of answer choices

A)the opportunity cost of consumer wants satisfied is diminishing.

B) the greater is the opportunity cost of consumer wants satisfied.

C) every additional missile will reduce consumer goods production by more and more.