If total utility increases by smaller and smaller amounts as more units of a product are consumed, then marginal utility is:
a. decreasing and is a negative amount.
b. decreasing and is a positive amount.
c. zero.
d. increasing and is a negative amount.
e. increasing and is a positive amount.
b
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80% of the total number of people in Genovia with health insurance are above 40 years of age. Which of the following economic concepts helps in explaining this fact?
A) The concept of negative externalities B) The concept of adverse selection C) The concept of free riding D) The concept of positive externalities
Changes in which of the following change the demand for capital and shifts the demand curve for capital?
A) current income B) expected future income C) the rental rate D) the marginal product of capital
In the following graph, the price of capital is $100 per unit. If a firm decides that total cost must not exceed $3,500, what is the maximum amount of output it can produce?
A. 1,000 B. 1,500 C. 500 D. 100 E. none of the above
A monopolist's marginal revenue is always less than its price at any one level of output.
Answer the following statement true (T) or false (F)