Refer to the graph shown.
A decrease in production costs is likely to cause a movement from ________.
A. point C to D
B. point B to A
C. point B to D
D. point C to A
Answer: B
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The U.S. Postal Service's monopoly on first-class mail service is the result of
A) a natural monopoly. B) a patent. C) a public franchise. D) a government license. E) an ownership barrier to entry.
The monetary base is
A) currency and reserves of depository institutions. B) currency minus depository institutions' reserves. C) depository institutions' reserves minus Federal Reserve notes. D) the money borrowed by banks from other banks.
The market
A. Always provides the optimal mix of goods and services. B. On its own may not always provide the optimal mix of goods and services. C. Always provides a better mix of goods and services without government intervention than it does with government intervention. D. May not produce the optimal mix of output, which is known as government failure.
Josh is eating pizza at his favorite Italian restaurant. Below is his utility from this consumption:Table 19.1Slice of PizzaTotal UtilityMarginal UtilityFirst slice2020Second slice3919Third slice-15Fourth slice59-Refer to Table 19.1. The marginal utility Josh enjoys from the fourth slice of pizza is
A. 20 utils. B. 0 utils. C. 5 utils. D. 54 utils.