What is the rate of decrease in marginal utility for each successive slice of pizza?
a. 2
b. 4
c. 6
d. 10
a. 2
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Refer to Table 25-3. Consider the above simplified balance sheet for a bank. If the required reserve ratio is 10 percent, the bank can make a maximum loan of
A) $2,000. B) $5,000. C) $6,300. D) $45,000.
For an economist, the idea of making assumptions is regarded generally as a
a. bad idea, since doing so leads to the omission of important ideas and variables from economic models. b. bad idea, since doing so invariably leads to data-collection problems. c. good idea, since doing so helps to simplify the complex world and make it easier to understand. d. good idea, since economic analysis without assumptions leads to complicated results that the general public finds hard to understand.
Which point would represent an unattainable combination of resources?
A. Point A
B. Point D
C. Point C
D. Point E
Consolidation in an industry can be a good thing if larger firms are more efficient at producing products at a lower price.
a. true b. false