Refer to the table below. At what consumption level for this product does diminishing marginal utility set in?
A. 4 units
B. 5 units
C. 8 units
D. 7 units
D. 7 units
You might also like to view...
Who gains in voluntary trade
Refer to the above figure. Assume that B is the current long-run aggregate supply (LRAS) curve and that E is the current short-run aggregate supply (SRAS) curve
If a new discovery of large oil fields in Florida led to an increase in the nation's productive capacities, then we could expect the LRAS curve and the SRAS curve to A) remain B and E. B) move to A and D. C) move to C and F. D) move to A and F.
Which of the following statements best describes the outcome of a shift in the AS curve?
a. If AS shifts out to the left, a combination of lower inflation, higher output, and lower unemployment is possible. b. If AS shifts out to the right, a combination of lower inflation, higher output, and lower unemployment is possible. c. If AS shifts out to the right, a combination of lower inflation, lower output, and higher unemployment is possible. d. If AS shifts out to the left, a combination of lower inflation, lower output, and higher unemployment is possible.
Describe the number of legal and unauthorized immigrants that have entered the United States annually since the year 2000. What has been the effect of this immigration on population and labor force growth in the United States?
What will be an ideal response?