FALSE, (less than the marginal benefit)
True or False? Baseballs and baseball bats are substitute goods.
True or False? A rational decisionmaker takes an action if and only if the marginal cost exceeds the marginal benefit.
True or False? The law of demand states that the quantity demanded of a product is positively related to price.
True or False? Demand for a good is said to be inelastic if the quantity demanded increases substantially when the price falls by a small amount.