In Figure 5-19, the consumer experiences at point C
A. greater total utility than at point D.
B. greater total utility than at point E.
C. less total utility than at point D.
D. total utility equal to that experienced at point D.
Answer: C
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Refer to Table 15-4. What is Shakti's profit-maximizing output?
A) 4 units B) 5 units C) 6 units D) 7 units
Which of the following can occur simultaneously?
a. An increase in the national debt and a budget surplus b. A decrease in the national debt and a balanced budget c. An unchanged national debt and a budget deficit d. Positive national debt and a budget surplus e. A decreasing national debt and a budget deficit
A Pareto improvement
a. cannot take place unless a side payment is made b. cannot take place unless a market is perfectly competitive c. cannot occur unless both parties to a transaction enjoy positive net benefits d. will increase the total net benefits available in a perfectly competitive market e. occurs whenever the sum of market consumer surplus and market producer surplus is positive
A ____________ is an organization of workers that negotiates with employers over wages and working conditions.
a. guild b. labor union c. professional association d. lobby