If marginal utility is zero, total utility is
A) falling.
B) zero.
C) at its maximum.
D) negative.
Answer: C
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If a union is unable to increase the demand for its workers, then success at raising the wage rate paid its members means that
A) all union members receive a higher wage. B) some union members will lose their jobs. C) more union members will be hired. D) the union will push for a decrease in the minimum wage.
Price discrimination is
a. The practice of charging different prices to different individual buyers or customer groups b. The practice of differentiating the product to make demand less elastic c. The practice of deciding a single price to be charged to customers d. Always illegal
Per capita GDP will definitely increase if
A. Population and GDP decrease at the same rate. B. GDP and population increase at the same rate. C. GDP increases more rapidly than population. D. Population increases more rapidly than GDP.
An increase in a per unit production tax ______ supply.
Fill in the blank(s) with the appropriate word(s).