The table above shows Tom's total utility from milkshakes and sodas. What is the marginal utility of the eighth soda?
A) 32 units
B) 20 units
C) 10 units
D) 8 units
D
Economics
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The basic economic problem is a situation of
A) limited resources and unlimited wants. B) both limited resources and limited wants. C) limited incomes and unlimited choices. D) unlimited incomes and limited choices.
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The tax multiplier is equal to the spending multiplier
a. True b. False Indicate whether the statement is true or false
Economics
Here's a taste of economic history: in the United States, the government's Office of Price Administration (OPA) introduced a rationing system in
a. 1929 b. 1932 c. 1942 d. 1967 e. 1973
Economics
Economists use the phrase "network externalities" to describe the role technology plays in explaining why consumers buy products that other consumers are already buying.
a. true b. false
Economics