Economic problems arise because:

A. Wants are unlimited

B. Resources are scarce

C. Scarce resources have alternative uses

D. All of the above

Please do not use chat terms. Example: avoid using "grt" instead of "great".

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  1. Regarding economic decisions, economics of uncertainty identifies:
  2. Price-taker firms:
  3. The price under perfect competition is settled by:
  4. For the given production function, technical efficiency is defined as:
  5. From analysis, it is clear that both Marshal and Walras market models are:
  6. When total revenues equal to total opportunity cost then the firm will earn:
  7. A price is a ratio of exchange between:
  8. Identify the coefficient of price-elasticity of demand when the percentage increase in the quantity…
  9. Discriminating monopoly implies that the monopolist charges different prices for his commodity:
  10. If the commodity is normal then price effect is:
  11. In case of perfect competition, TR curve rises at a:
  12. Which of the following would be least likely to cause a consumer to eat less beef?
  13. Who is the author of Choice of Technique?
  14. Utility means:
  15. On an indifference map higher indifference curves show:
  16. Duopoly is a market where there are:
  17. Cross-elasticity of demand or cross-price elasticity between two complements will be:
  18. The substitution effect works to encourage a consumer to purchase more of a product when the price of…
  19. All of the following are capital resources except:
  20. Some economists refer to iso-product curves as:
  21. A monopoly producer usually earns:
  22. Government planners play a central role in allocating resources:
  23. An exceptional demand curve is:
  24. By saying that monopolist create a contrived scarcity, economist mean that monopolist:
  25. Marginal revenue from a given output:
  26. If we measure the elasticity of demand with the help of the average and marginal revenue, the formula…
  27. The isoquant which are generated by CES (constant elasticity of substitution) production function are…
  28. The difference between laws of return and laws of return to scale is:
  29. In second degree price discrimination, monopolist takes away :
  30. The point where the supply and demand curves intersect on a graph determines: