An extra hour of market work is an attractive use of your time
a. because of the utility generated by goods made possible through the extra work
b. solely because of the personal satisfaction it generates
c. when the disutility of income generated by the extra work exceeds the utility
d. when the net utility of the extra goods made possible and the extra work is greater than zero
e. only when you do not enjoy leisure time
D
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Sue's Surfboards is the sole renter of surfboards on Big Wave Island. Sue does not price discriminate. For Sue's Surfboards, the change in total revenue from each additional surfboard rented is her
A) marginal revenue and is equal to the rental price of a surfboard. B) marginal cost and is greater than the rental price of a surfboard. C) marginal revenue and is less than the rental price of a surfboard. D) marginal cost and is constant regardless of how many surfboards are rented.
A profit-maximizing firm will hire inputs until MRP = P of the input.
Answer the following statement true (T) or false (F)
Trade only occurs if there are only winners, and no losers, as a result of the trade
Indicate whether the statement is true or false
In 2010, Social Security pay-ins exceeded payouts in the U.S., for the first time in history
Indicate whether the statement is true or false