"As Rob consumes more dates over the course of a day, it is likely that his marginal utility from date consumption will rise." Is the previous statement likely correct or incorrect?
What will be an ideal response?
The statement is incorrect. The principle of diminishing marginal utility means that Rob marginal utility from eating dates decreases as he eats more dates.
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Roxie's Movie Theatre is the only one in town. The table above gives the demand schedule for movies
If Roxie's is a single-price monopoly and the marginal cost of a movie is $6, Roxie's will charge ________ a movie and will sell ________ movie tickets a week. A) $15; 100 B) $12; 200 C) $6; 400 D) $9; 300
It is impossible for both nations to gain when trading with one other
a. True b. False Indicate whether the statement is true or false
A Nash equilibrium is
A. the same as a dominant strategy. B. is the outcome where a player has selected her best strategy, given the choices of the other players. C. occurs in a game when a cartel solution is reached. D. occurs when one player can change her strategy and be better off.
The country with which we have the fastest growing trade deficit is __________.
Fill in the blank(s) with the appropriate word(s).