Chegg Study Guided Sclut G In econemics it is assumed QUESTION 12 1 point The ol

Question

Chegg Study Guided Sclut G In econemics it is assumed QUESTION 12 1 point The old saying You cannot have your cake and eat the following principles does the saying refer to? too demonstrates a fundamental economic principle, which of A. The law of trading up. o B. The law of diminishing marginal utility O C. Opportunity cost. O D.The principle of increasing cost O E. The economic law of you cannot have it all. QUESTION 13 3 poi This question is about graph A. At which point on graph A wll Turkana's economy experience the most amount of economic growth over time? O A point E O B point A O C point tD O D point B O E point G O F point c

Explanation / Answer

Answer for Question 12)

As per the phrase we cnat have all but mutually exclusive that is we cant have two things at one time

Therfore in this context correct response will be Option E)

Answer for Question 14)

Option 3 is correct response as Scarcity is natural phenomenon whereas Shortage is temporary and not natural.

Hence both are not interrelated at all

Answer for Q 15)

Output produced per unit of input is termed as Productivity.

Answer for Q 17)

He chose to go to Royal Game otherwise he would have to pay $50 hence his opportunity cosy is($0-(-$50))=$50

Option D is correct answer

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