When consumers maximize utility, they are equating the ratio of marginal utility to price across all goods consumed.
Answer the following statement true (T) or false (F)
True
Economics
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National saving is
A) the sum of private saving and government saving. B) reduced by government budget deficits. C) the sum of private saving and the government budget deficit or surplus. D) all of the above.
Economics
The latent poor are not included in the official poverty count as poor
Indicate whether the statement is true or false
Economics
If a ton of steel sells for $15,000 and a car made from a ton of steel sells for $30,000, then if all markets are perfectly competitive, how many cars can be made from the last ton of steel used by a profit-maximizing firm?
A. 1/3 car B. 1/2 car C. 1 car D. 1.5 cars
Economics
What was the total revenue generated before the price change?
a. $140
b. $240
c. $560
d. $700
Economics