Refer to Figure 3.2. At any consumption bundle with the quantity of good X exceeding the quantity of good Y (that is, a bundle located below the 45 degree line, like point A), Alvin's marginal rate of substitution of good X for good Y is
A) diminishing.
B) positive.
C) constant and positive.
D) zero.
D
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The prices of the goods and services in the CPI market basket are collected
A) monthly. B) yearly. C) quarterly. D) infrequently. E) only when the CPI market basket is determined by the Consumer Expenditure Survey.
Recall the Application about how marginal utility changes with the quantity consumed to answer the following question(s). Neuroscientists offered subjects in an experiment varying monetary rewards, and observed the neural activity in a subject's striatum region of the brain.Recall the Application. The larger the monetary reward offered to the subjects in the experiment:
A. the higher the marginal utility and total utility of the reward money. B. the lower the marginal utility and total utility of the reward money. C. the lower the marginal utility and higher the total utility of the reward money. D. the higher the marginal utility and lower the total utility of the reward money.
What is the difference between product versioning and product bundling? Which of these two business practices have antitrust authorities been more likely to regard to be the form of price discrimination called tie-in sales? Why?
What will be an ideal response?
Straight Cut beauty salon merges with Clean-Cut beauty salon. This is an example of
A) conglomerate merger. B) concentration ratio. C) vertical merger. D) horizontal merger.