Mary says, "You would have to pay me $50 to attend that pro wrestling event." For Mary, the marginal utility of the event is:
A. zero.
B. positive, but declines rapidly.
C. negative.
D. positive, but less than the ticket price.
Answer: C
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Answer the following statement(s) true (T) or false (F)
1. The Pareto criterion is a criterion under which any proposal that can be unanimously defeated should be rejected. 2. To be effective, a price ceiling needs only to be enforced. 3. If a tax and a price control have the same effect on the price paid by consumers, then the two policies will create the same deadweight loss. 4. Consumers will benefit from a tariff, because it helps domestic firms and generates revenue for the government. 5. The value of a good is ultimately determined by the amount of labor needed to produce the good.
On a diagram of a production possibilities frontier, opportunity cost is represented by the production possibilities frontier shifting outward
Indicate whether the statement is true or false
Refer to the information provided in Figure 19.1 below to answer the question(s) that follow. 
Figure 19.1 Refer to Figure 19.1. Initially after the payroll tax is imposed, the firms? cost per unit of labor is ________ per hour and the workers? take home pay is ________ per hour.
A. $12; $7 B. $9; $9 C. $10; $10 D. $10; $9
What are consumption taxes, and what is an example of a consumption tax?
What will be an ideal response?