______ is what customers are WILLING to pay for marginal benefit of a product
A. Equibrium
B. Price
C. Value
D. Utility
Answer: B. Price
You might also like to view...
Refer to the figure below. Moving from demand curve D1 to demand curve D2 could be caused by a(n): 
A. increase in the price of a complement. B. decrease in the product's expected future price. C. increase in the price of a close substitute. D. increase in quantity supplied.
The nominal interest rate in Autarkia has risen sharply after a change in a government policy. How will this affect the economy if the wages in the country are downwardly rigid?
What will be an ideal response?
If the central bank targets a rate of nominal GDP growth, then it would have to _____ money growth when nominal GDP fell below its target in order to _____ inflation and ____ real GDP
a. increase; increase; increase b. increase; decrease; decrease c. decrease; decrease; decrease d. decrease; decrease; increase
The Toys-R-Danger-Us Toy Company can produce 500 water pistols for a total cost of $1,400 . The company can also produce 1,000 water pistols for a total cost of $3,000 . but it would have costs of $200 even if it produced no water pistols. Which of the following is true?
a. Total cost is increasing at a decreasing rate. b. Total cost is increasing at a constant rate. c. Marginal cost is positive and increasing as output increases. d. Variable cost is positive and decreasing as output increases. e. Fixed cost is positive and decreasing as output increases.