Refer to the table below. If the child buys either chocolates or hard candies one piece at a time, what will be his first two purchases?
A child is given $4 of pocket money to be spent on either hard candies or chocolates. Chocolates cost 40 cents and hard candies 80 cents each. The marginal utilities derived from each product are as shown in the following table:
A. A hard candy, followed by another hard candy
B. A hard candy, followed by a chocolate
C. A chocolate, followed by a hard candy
D. A chocolate, followed by another chocolate
A. A hard candy, followed by another hard candy
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When both players in a game play a dominant strategy, the outcome will be
a. Pareto optimal. b. a Prisoners' Dilemma. c. a Stackelberg equilibrium. d. the game's only Nash equilibrium.
Changes in which of the following shifts the aggregate supply curve?
i. the price level ii. the money wage rate iii. potential GDP A) i only B) ii only C) iii only D) ii and iii E) i, ii, and iii
To ensure all students are protected from getting the flu this year, your school offers free flu shots. What type of externality exists in this example?
A) negative consumption externality B) positive consumption externality C) positive production externality D) negative production externality E) neutral externality
In an economy with money, as opposed to barter, people are more likely to specialize in the production of goods and services
Indicate whether the statement is true or false