By selecting a bundle where MRS = MRT, the consumer is saying
A) "I value my last unit of each good equally."
B) "I am willing to trade one good for the other at the same rate that I am required to do so."
C) "I will equate the amounts spent on all goods consumed."
D) All of the above.
B
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Which of these forms of financing requires the smallest minimum size of the borrower?
A) short-term commercial bank loans B) commercial paper C) mezzanine funds D) venture capital funds
The marginal product of the fourth worker is
A) 150 units of output. B) 24 units of output. C) negative. D) 36 units of output.
A risk-averse individual has
A) an increasing marginal utility of income. B) an increasing marginal utility of risk. C) a diminishing marginal utility of income. D) a diminishing marginal utility of risk. E) a constant marginal utility of income, but a diminishing marginal utility of risk.
Positive economic analysis
A. involves value judgments. B. concerns what ought to happen. C. addresses factual issues. D. is subjective.