The table above shows Tom's total utility from milkshakes and sodas. A milkshake costs $2.00. How much marginal utility per dollar would Tom get if he purchased the ninth milkshake?
A) 1728 units per dollar
B) 20 units per dollar
C) 10 units per dollar
D) none of the above
C
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Refer to Table 19-19. Given the information above, calculate the GDP deflator in 2016
A) 114 B) 105 C) 95 D) 87
Which of the following is true of the relationship between the marginal cost function and the average total cost and average variable cost functions?
A) If MC is greater than ATC and AVC, then ATC and AVC will increase. B) The ATC and AVC curves intersect the MC curve at minimum MC. C) The MC curve, ATC curve, and AVC curve all intersect at the same point. D) At each level of output, MC is equal to difference between AVC and ATC.
Consider an economy made up of 100 people, 60 of whom hold jobs, 10 of whom are looking for work, and 15 of whom are retired. The number of people in the civilian labor force is:
a. 30. b. 60. c. 85. d. 90. e. 70.
A risk-averse agent
A. only cares about expected payoff. B. does not care about expected payoff. C. cares about expected payoff as well as the variability of a payoff. D. only cares about the variability of a payoff.