If MUx/Px exceeds MUy/Py, then a household can increase its utility by spending more on Y and less on X.
Answer the following statement true (T) or false (F)
False
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Refer to the table below. The average cost of 4 units of this activity is:Units ofActivity TotalCostTotalBenefit0$0$01$30$1002$40$1603$60$1904$100$2105$150$2206$210$225
A. $25 B. $30 C. $20 D. $40
Refer to the information above. What is the approximate value of the multiple of combined physical and human capital that the rich country must have in order to produce 10 times the output per person of the poor country?
A) 1000 B) 100 C) 25 D) 15
Without product differentiation, it would be very difficult for firms to develop brand loyalty
Indicate whether the statement is true or false
The study of the decision-making process of government is the study of:
A. Keynesian economics. B. public choice theory. C. rational expectations theory. D. social economics.