If natural resources had become scarcer, then we would expect their
a. prices to have risen more than inflation as they have.
b. prices to have risen more than inflation, but they have not.
c. known quantities to have fallen as they have.
d. known quantities to have fallen but they have not.
b
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Total utility is determined by:
a. multiplying the quantity purchased of a good by the price of the good. b. finding the additional utility gained from consuming one more unit of a product. c. summing the marginal utilities for each successive units of a product consumed. d. summing the number of units of a good consumed. e. dividing the marginal utility derived from consuming a good by its price.
Which of the following is an example of price discrimination?
a. A Burger King in New York City charging more for a hamburger than a Burger King in Manhattan, Kansas. b. A clothing store offering shirts at ten dollars each or two for fifteen dollars. c. A movie theater charging lower ticket prices to children and senior citizens. d. A car dealer charging higher prices for cars with air conditioning.
A quota reduces quantity sold by operating through the demand side of the market
a. True b. False Indicate whether the statement is true or false
Which of the following is not associated with global poverty?
A. Lack of medical care. B. Low mortality rates. C. Lack of proper clothing. D. Malnourishment.