If Tom purchases and consumes an entire Pizza, which of the following is likely to be true?
a. The total utility of the first two pieces will be positive and the marginal utility of the second piece will be negative.
b. The marginal utility of the second piece will be positive and the total utility of the first two pieces will be negative.
c. The total utility of the first two pieces will be positive and the marginal utility of the second piece will be less than the marginal utility of the first piece.
d. The marginal utility of the second piece will be positive and the total utility of the first two pieces will be less than the marginal utility of the first piece.
c
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A person has a comparative advantage in producing a particular good if that person
A) has higher productivity in producing it than anyone else has. B) can produce it at lower opportunity cost than anyone else can. C) has less desire to consume that good than anyone else has. D) has more human capital related to that good than anyone else has.
Which form of business organization is the least common in the United States?
a. sole proprietorship b. partnership c. corporation d. nonprofit organization e. conglomerate
Many people assert that the national debt is not a problem because "we owe it to ourselves." Is this true?
Demand-side changes explain everything about stagflation.
Answer the following statement true (T) or false (F)