The table above gives Jane's total utility from magazines and CDs. What is the marginal utility of Jane's sixth magazine?

A) 80 units
B) 60 units
C) 36 units
D) 15 units


C

Economics

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The winner's curse is the tendency in certain types of auctions for:

A. unsophisticated bidders to overpay whenever they win. B. winners to be unable to win a subsequent auction. C. winners to regret spending their money on the auctioned item. D. the owner of the item up for auction to unfairly drive up auction prices.

Economics

If the price of hamburger rises, we would expect the demand for steak to shift to the right

a. True b. False Indicate whether the statement is true or false

Economics

An example of a perfectly competitive market would be the

a. cable TV market. b. soybean market. c. breakfast cereal market. d. shampoo market.

Economics

An adverse supply shock shifts the short-run Phillips curve right. If people raise their inflation expectations, the short-run Phillips curve shifts farther right

a. True b. False Indicate whether the statement is true or false

Economics