Higher education is a ________ and assigned textbooks are ________.
A. need; wants
B. want; wants
C. need; needs
D. want; needs
Answer: B
You might also like to view...
Economists try to address their subject with a scientist's objectivity
a. True b. False Indicate whether the statement is true or false
Which of the following scenarios shows a benefit of international trade?
a. Edie was able to buy durian from Thailand at a fruit stand in New York City year round. b. The latest film in a superhero series was the top box office draw in the country last week. c. After the knitting factory closed, the building was converted into modern loft apartments. d. Preeti earned about a third of what her U.S. counterpart earned per hour for the same work.
The principal of a loan is the:
A. set of rules and conditions borrowers agree to when taking out a loan. B. original amount of the loan. C. set of rules and conditions savers agree to when agreeing to let someone borrow their money. D. original amount that people want to borrow.
Michael spends $10 a month on Pez dispensers and Superman action figures. His marginal-utility-to-price ratio for the Pez dispensers is 40, while his marginal-utility-to-price ratio for Superman action figures is 47. Explain why Michael is not maximizing his utility and how can he change his behavior to increase his utility?
What will be an ideal response?