If Rick Nicotera maximizes his utility from a given income, the
a. marginal utility for every good he purchased would be the same
b. marginal utility per dollar for all goods he purchased would be the same
c. marginal utility per dollar for all goods he purchased would be at a maximum
d. total expenditure he made on each good would be the same
e. number of units of each good he consumes would be the same
B
You might also like to view...
On Tuesday, a movie theater discounts tickets to all shows. What would we expect to see happen to popcorn on Tuesdays?
A. Increased demand for popcorn B. Decreased supply of popcorn C. Decreased demand for popcorn D. Increased supply of popcorn
________ shifts the consumption function upward
A) A decrease in the marginal propensity to consume B) An increase in the price level C) An increase in the real interest rate D) An increase in expected future disposable income E) An increase in disposable income
(1)(2)(3)(4)(5)QdQdPriceQsQs5040$1070806050960708060850609070740501008063040Refer to the above table. In relation to column (3), a change from column (2) to column (1) would indicate a(n):
A. decrease in demand. B. increase in supply. C. decrease in supply. D. increase in demand.
When a firm is operating at an output rate at which total revenue equal total costs, this is called
A) its shutdown point. B) its breakeven point. C) a short-run profit. D) a loss.