Laura's total utility from consuming 8, 9, and 10 bonbons is 35, 42, and 45, respectively. Her marginal utility from the 9th bonbon is ________.
A. 77
B. 42
C. 4.67
D. 7
Answer: D
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Refer to Horizontal Merger. As a consequence of the merger, consumers lose surplus equal to
The following questions refer to the accompanying diagram, which shows the effects of a horizontal merger. Before the merger, the firm behaves competitively producing Q0 and charging P0. The merger lowers the firm's marginal cost and gives the firm enough market power to switch to the monopoly equilibrium.
a. Area A + B.
b. Area C + D.
c. Area C + D + E.
d. Area G.
Last year in Candamica, consumption expenditure was $20 billion, interest, rent, and profit were $2.5 billion, government expenditure on goods and services was $7 billion,
net exports of goods and services was $5 billion, and investment was $2 billion. Hence total expenditure was A) $24.5 billion. B) $34.5 billion. C) $36.5 billion. D) $34 billion. E) undetermined without information about imports.
A monopoly firm can sell its fourth unit of output for a price of $250. To sell more than five units, it must expect to receive a price:
A. equal to $250. B. greater than $250. C. less than $250. D. equal to $340.
Suppose that an economy is initially producing at the full-employment level of output. Now suppose there is a reduction in the money supply. Other things being equal we can expect
A. demand-side inflation. B. cost-pull inflation. C. supply-side inflation. D. deflation.