________ in economics is a measure of satisfaction or happiness that comes from consuming a good or service
A) Budget
B) Utility
C) Income effect
D) Substitution effect
B
You might also like to view...
Mary has an old house built in 1950 that she would be willing to sell for $100,000. If someone offers to buy her house at $110,000, Mary's producer surplus would be equal to:
A) $5,000. B) $10,000. C) $55,000. D) $100,000.
When a natural monopoly is regulated using a marginal cost pricing rule, what can you say about the firm's profit and the market's efficiency?
What will be an ideal response?
If the dollar appreciates:
a. imports to the United States become more expensive for foreigners b. exports from the United States become more expensive for foreigners c. imports become more expensive for U.S. citizens. d. exports from the United States become cheaper e. the dollar will exchange for fewer units of a foreign currency
Assume Joe invests a total of $10,000 in a company - $5,000 of which is his own money and $5,000 which he borrowed at a 10% interest rate. If the company's stock value decreases by 5% in one year at which time Joe sells his shares of the stock, what is Joe's rate of return on his investment?
a. ?5% b. ?10% c. ?20% d. ?30%