At consumer equilibrium, the number of utils per dollar of two different products is ______.
a. one
b. zero
c. equal
d. variable
c. equal
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Technological progress directly raises output, but also slows capital deepening
Indicate whether the statement is true or false
A purchase of government bonds from the public by the Federal Reserve Banks
A) adds to the money stock. B) has the effect of pulling wealth and therefore money out of the private sector. C) increases the money stock directly and simultaneously increases commercial bank reserves. D) puts additional reserves into the commercial banking system. E) reduces the wealth of the public.
Consumers may not experience the benefits of economies of scale if a natural monopoly:
A.) Raises price and fails to pass cost savings on to consumers. B.) Engages in marginal cost pricing. C.) Raises output beyond efficient levels. D.) Is regulated by the government.
The primary difference between monopolistic competition and perfect competition is:
A. Both the ease of entry and exit into the industry and the number of firms in the market are correct. B. the number of firms in the market. C. the ease of entry and exit into the industry. D. None of the answers is correct.