According to utility theory you would consume more and more of a service until your marginal utility
A. fell to the level of price.
B. rose to the level of price.
C. was less than price.
D. was more than price.
A. fell to the level of price.
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The preceding table gives monthly production information for Peter's Peanuts, a firm in a perfectly competitive industry. The market price of peanuts is $2.00 per pound. What is the marginal product from employing the fourth worker?
A) 7 pounds of peanuts B) 100 pounds of peanuts C) 400 pounds of peanuts D) 2,800 pounds of peanuts
Forward and spot exchange rates
A) are necessarily equal. B) do not move closely together. C) are always such that the forward exchange rate is higher. D) move closely together and are equal on the value date. E) are unrelated to the value date.
Barter is a system of exchange that does not depend on a coincidence of wants
a. True b. False Indicate whether the statement is true or false
Consumption:
A. is a major component of aggregate demand. B. is negatively related to the national price level. C. measures people's expenditures on real goods and services. D. All of these are true.