Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The optimal use of a resource takes place when which happens? Responses The opportunity cost is greater than the actual cost. The opportunity cost is

The optimal use of a resource takes place when which happens? Responses The opportunity cost is greater than the actual cost. The opportunity cost is greater than the actual cost. The benefit is greater than the opportunity cost. The benefit is greater than the opportunity cost. There is a decrease in the marginal utility of a decision. There is a decrease in the marginal utility of a decision. The supply and demand curves never intersect

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial economics applications strategy and tactics

Authors: James r. mcguigan, R. Charles Moyer, frederick h. deb harris

12th Edition

9781133008071, 1439079234, 1133008070, 978-1439079232

More Books

Students also viewed these Economics questions