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PubPol 330 Final Exam Questions & Answers.
PubPol 330
PubPol 330
PubPol330FinalExamQuestions&Answers. cost-benefit principle - > An individual (or a firm or a society) should take an action if, and only if, the extra benefits from taking the action are at least as great as the extra costs. opportunity cost - > the true cost of something is the next best alternative you have to give up to get it -some out-of pocket costs are opportunity costs (not always) -ignore sunk costs scarcity - > Limited quantities of resources to meet unlimited wants s...
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