If you receive $18 worth of pleasure from the first hole of golf played and your additional pleasure from succeeding holes drops $1 for each hole played, if the cost per hole is zero, how many holes of golf will you play?
A. 19
B. 18
C. 17
D. 16
Answer: B
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In economics, the demand for money is basically a demand for
A) bonds. B) status. C) liquidity. D) investment.
Consumer surplus can be used to compare the effects of any of the following except for different
a. market structures b. tax structures c. production technologies, such as capital-intensive versus labor-intensive d. public programs e. levels of medical care benefits
Business cycles are a persistent feature of the U.S. economy
a. True b. False Indicate whether the statement is true or false
Macroeconomics first developed as a new subfield of economics:
A. in response to the severe economic hardships of the Great Depression. B. as a result of Adam Smith's publication of The Wealth of Nations in 1776. C. when Adolph Hitler ordered economists to learn more about national economies. D. following the oil price increases of the 1970s.