If total utility from consuming five cups of cocoa is 10, 22, 32, 41, and 49 utils, respectively, the marginal utility of the fourth cup of coffee is 9
a. True
b. False
Indicate whether the statement is true or false
True
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An effective price support ________ producers and ________ a deadweight loss
A) has no effect on; does not create B) benefits; creates C) harms; creates D) benefits; does not create E) harms; does not create
The figure above shows the market for umbrellas in Sunville. When the market for umbrellas in Sunville is in equilibrium, what is the total surplus?
A) $0 B) $12,000 C) $24,000 D) $16,000
The Fed conducts an open-market sale of Treasury bills of $5 million. If the required reserve ratio is 0.20, what change in the money supply can be expected using the oversimplified money multiplier?
A. $25 million B. $5 million C. 0 D. ?$5 million E. ?$25 million
Why does the supply curve of the perfectly competitive industry shift to the right whenever a new firm enters the industry?
What will be an ideal response?