________ are guarantees of quality issued directly by either the manufacturer or the seller
A) Patents
B) Trademarks
C) Warranties
D) Copyrights
C
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Suppose that Janis is maximizing her total utility from chairs and tables. If the marginal utility of the last table she purchased is 200 utils, and the prices of chairs and tables are $50 and $100, respectively, then the marginal utility of the last chair she purchased
a. is 100 utils b. is 400 utils c. is 200 utils d. is 50 utils e. cannot be determined without more information
If Earl received an $800 bonus and his MPS is 0.25, his consumption rises by $________ and his saving rises by $________.
A. 400; 250 B. 825; 125 C. 800; 250 D. 600; 200
In the above figure, suppose the government subsidizes the production of milk so that milk production increases to 8 million gallons per day
What is the size of the deadweight loss? (Hint: It is equal to the triangular area of negative consumer and producer surplus that results when output exceeds the efficient level.) A) $12.5 million B) $6.25 million C) $4.50 million D) $2.25 million
If the interest rate is below the equilibrium, which of the following occurs in this market?
a. excess supply b. excess quantity supplied c. excess demand d. excess quantity demanded