If it costs $6.00 to go to the movies and $25.00 to go to a hockey game, Tom is maximizing his utility between movies and hockey if his marginal utility of movies is 12 units and his marginal utility from hockey is 50
Indicate whether the statement is true or false
TRUE
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When the price level increases, people demand ________ money and the demand for money curve ________
A) less; shifts rightward B) more; shifts leftward C) less; shifts leftward D) the same amount of; does not shift E) more; shifts rightward
For diversification to be a successful management strategy, it must
A) generate accounting profits. B) earn normal profits. C) protect market share. D) add value.
Which of the following statements is correct?
a. If duopolists successfully collude, then their combined output will be equal to the output that would be observed if the market were a monopoly. b. Although the logic of self-interest decreases a duopoly's price below the monopoly price, it does not push the duopolists to reach the competitive price. c. Although the logic of self-interest increases a duopoly's level of output above the monopoly level, it does not push the duopolists to reach the competitive level. d. All of the above are correct.
Describe how delays can prevent economic policy from being successful.
What will be an ideal response?