A "bad" would be associated with:
A. zero marginal utility.
B. a very small amount of marginal utility.
D. positive marginal utility.
C. negative marginal utility.
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What is the Principal of Optimization at the Margin? Explain with an example
What will be an ideal response?
How would we expect the economic growth rates in future years of country A and country B to compare?
A. Country A will have a higher growth rate.
B. Country B will have a higher growth rate.
C. Both countries will grow at about the same rate.
D. There is not enough information to determine the relative growth rates of countries A and B.
Pair-wise majority voting entails:
A. voting on options that is done in pairs, and the majority vote wins. B. voters ranking all available options and the option most approved of wins. C. one vote with many options, and the option with the most votes wins. D. None of these describes pair-wise majority voting.
What are the net costs of tariffs and quotas on consumption and income distribution?
What will be an ideal response?