When we say rational people make decisions at the margin, we are saying that people:
O compare the additional costs and additional benefits of only the current choice.
O compare the total costs and additional benefits of only the current choice.
O compare the additional costs and additional benefits of only the past choices.
O compare the additional costs and additional benefits of the current choice and past choices.

Suppose farmer lane grows and sells cotton in a perfectly competitive industry. the market price of cotton is $1.64 per kilogram, and his marginal cost of production is $1.44 per kilogram, which increases with output. assume farmer lane is currently earning a profit. can farmer lane do anything to increase his profit in the short run? farmer lane: a. cannot do anything to increase his profit. b. may or may not be able to increase his profit. c. can increase his profit by raising his price. d. can increase his profit by producing more output. e. can increase his profit by shutting down.

Why entrepreneurs start businesses. a) monopolistic competition b) perfect competition c) sole proprietorship d) profit motive

Which of the following would cause a shift to the right of the supply curve for gasoline? i. a large increase in the price of public transportation. ii. a large decrease in the price of automobiles. iii. a large reduction in the costs of producing gasoline