Suppose a consumer wants to obtain the highest possible satisfaction from goods purchased on a fixed budget. Which of the following must be equal for all goods?
a. Total utility.
b. Marginal utility.
c. Average utility.
d. Marginal utility per dollar.
d
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Movements away from equilibrium in the Solow model:
A) persist and cannot be corrected. B) are corrected only through government intervention. C) are automatically corrected. D) are corrected only when the country opens up to international trade.
Why would a company continue to operate for many years while never once turning a profit rather than shut down immediately? Using revenue and cost analysis, explain when the company would shut down
What will be an ideal response?
The accompanying table below shows how total donations, average donations, total labor costs and average labor costs vary depending on the number of employees State U hires for its fundraising activities.Number of EmployeesTotal DonationsAverage DonationsTotal Labor CostsAverage Labor Costs1$30,000 $8,0002$42,426 $17,000 3 $17,321$27,000 4$60,000 $9,5005 $13,416$50,000 The net benefit of hiring fundraisers is largest when ________ employees are hired.
A. 1 B. 2 C. 4 D. 3
Economics is a social science that is concerned with:
of productive resources so there is a minimum level of income b. The best use of scarce resources paid for at the highest level of cost to consumers and businesses c. The best use of scarce resources to achieve the maximum satisfaction of economic wants d. Increasing the amount of productive resources so there is maximum output in society