Basic research is conducted primarily by manufacturing industries
a. True
b. False
Indicate whether the statement is true or false
True
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If the price of one Weight Watchers frozen dinner is $2 and the price of one dozen jelly doughnuts is $1, which of the following would Kent, a utility-maximizing consumer, buy with his $6?Jelly DonutsFrozen DinnersDozen Consumed per DayTotal utility (Units of utility)Dinners Consumed per DayTotal utility (Units of utility)0000112116221232327346430442530542628636
A. 2 frozen dinners and 2 dozen jelly doughnuts B. 1 frozen dinner and 4 dozen jelly doughnuts C. 6 dozen jelly doughnuts D. 3 frozen dinners
For Michael, the first cup of coffee he drinks every morning is heavenly. The second one is pretty good, but not as good as the first, and if he drinks a third cup he feels jittery and sick. For Michael, the marginal utility from drinking a cup of coffee is clearly:
A. negative. B. positive. C. decreasing. D. increasing.
According to the Laffer curve, a decrease in the tax rate will increase tax revenue
A. if the economy is at the farthest point out on the curve. B. if the economy is on the negatively sloped section of the curve. C. no matter the location of the economy on the curve. D. if the economy is on the positively sloped section of the curve.
Alex, Kara, and Susie are the only three people in a community. Alex is willing to pay $40 for the third unit of a public good; Kara is willing to pay $25. If the marginal cost of producing the third unit is $100, what is the minimum amount that Susie must be willing to pay for it to be efficient for government to produce the third unit?
What will be an ideal response?