The change in satisfaction derived when an individual consumes one more unit of a good or service is called
A. fixed utility.
B. marginal utility.
C. total utility.
D. average utility.
Answer: B
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a. True b. False Indicate whether the statement is true or false
If a price floor is not binding, then it will have no effect on the market
a. True b. False Indicate whether the statement is true or false
Embodied technical change results in
A. an increase in physical capital. B. disembodied technical change. C. a decrease in labor productivity. D. an improvement in the quality of capital.
Amalgamated Widget Company is currently considering which investment projects it should undertake. The following list of projects along with the estimated rate of return of each project is presented to the executive management team:Project A (9%)Project B (7.5%)Project C (6.5%)Project D (11%)Project E (5.5%)The current interest rate in the loanable funds market is 6%. However, if an increase in government borrowing pushes the interest rate to 8%, we would expect the company to undertake ________ projects.
A. four B. five C. two D. three