Question
Please define these key terms: average benefit averagecost economic surplus microeconomics macroeconomics marginal benefit marginal cost normative economicsprinciple opportunity cost positive (or descriptive) economic principle
Please define these key terms:
average benefit
averagecost
economic surplus
microeconomics
macroeconomics
marginal benefit
marginal cost
normative economicsprinciple
opportunity cost
positive (or descriptive) economic principle
rational person
sunk cost
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Economics
Authors: Paul A. Samuelson, William Nordhaus
19th edition
978-0073511290, 73511293, 978-0073344232, 73344230, 978-007351129
