The law of diminishing marginal utility does not apply to interpersonal comparisons of utility
Indicate whether the statement is true or false
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A(n) ________ is an auction in which bids are placed publicly and the price decreases until a bidder stops the auction
A) open outcry English auction B) open outcry Dutch auction C) silent auction D) penny auction
If the government attempts to force a natural monopoly to charge a price equal to marginal cost,
A) the natural monopoly will shut down. B) the natural monopoly will still make high profits. C) the natural monopoly's marginal cost curve will shift up. D) total welfare is maximized.
Because majority voting fails to incorporate the strength of the preferences of individual voters, it:
A. creates negative externalities. B. under some circumstances produces economically inefficient outcomes. C. leads to market failure. D. leads to politics dominated by special interest groups.
Describe and explain the three principle methods of financing used by corporations
What will be an ideal response?