Louey's Greasy Spoon restaurant charges $15 for each dinner entree and $5 for each dessert selection, and they offer a dinner special that provide an entree and dessert for $18
If a diner at Louey's assigns zero value to dessert and $19 to an entree, what is their optimal decision? A) Buy the dinner special
B) Buy only the entree
C) Buy only the dessert selection
D) We do not have enough information to determine the optimal decision
B
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Which of the following statements is true?
A) The GDP per capita has almost been constant since the beginning of the 20th century in most of the western world. B) The average GDP per capita of a nation at a particular point of time is not the same as the income of all individuals in that nation. C) GDP per capita decreases with a decrease in population and increases with an increase in population, GDP remaining unchanged. D) GDP per capita is a useful to tool to study the disparities in standards of living in a country.
Takeover of one firm by another
a. ties up the nation's capital wastefully. b. uses up the economy's credit supply. c. reduces the value of the acquired firm. d. changes ownership of the acquired firm.
The firm's efficient scale is the quantity of output that minimizes
a. average total cost. b. average fixed cost. c. average variable cost. d. marginal cost.
Macroeconomics is the study of economics from the standpoint of:
a. Individual economic units b. A typical household c. The overall economy d. A typical firm