At consumer equilibrium, the marginal utility of one dollar’s worth of any good is equal to ______.
a. one
b. the total utility of all other goods combined.
c. the marginal utility of one dollar’s worth of any other good
d. zero
c. the marginal utility of one dollar’s worth of any other good
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Monopolies tend to
A) hire more labor than duopolists or competitive firms, hence they are inefficient. B) hire more labor than competitive firms but less than duopolists. C) hire less labor than competitive firms because they produce at an inefficient level. D) hire more labor because they produce at an inefficient level.
If you own 500 shares of preferred stock, how many regular votes would you get to cast at the next stockholders meeting?
A) 500 B) 250 C) 1 D) 0
Inheritance taxes tend to increase income inequality in the long run
a. True b. False Indicate whether the statement is true or false
Obi-Wan is considering whether to buy a lightsaber. With probability 0.50 he will value the lightsaber at $4,000, and with probability 0.50 he will value it at $1,000. If Obi-Wan is risk averse, then he will be willing to pay ________ for a new lightsaber.
A. less than $2,500 B. less than $4,000 C. more than $2,500 D. more than $4,000