Marginal utility is measured by the maximum amount of money a consumer is willing to pay for one more unit of a commodity
a. True
b. False
Indicate whether the statement is true or false
True
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A ________ is a formal organization of producers who agree on anticompetitive actions
A) duopoly B) cartel C) monopoly D) partnership
In 1773, who won 20,000 pounds (approx. 12 million dollars) by becoming the first person to accurately measure longitude while out at sea?
a. John Harrison b. James Cook c. Alexander Agassiz d. Roald Amundsen
In today's world, the goal of financial stability means:
A. preventing large-scale financial catastrophes. B. creating one mega regulatory agency. C. no institution should fail. D. competition should be eliminated.
Wal-mart
(a) is the railroad of the late nineteenth century. (b) provides an example of how one large business enterprise still can seize market power to restrict entry and exit. (c) holds monopoly power in retail. (d) exists at the expense of consumers.