When you tell your mother, "I'll never be tired of your cooking," you are saying the
A. total utility of her cooking to you is equal to 1.
B. total utility of her cooking to you is constant.
C. marginal utility of her cooking to you is 0.
D. marginal utility of her cooking to you will never be 0.
Answer: D
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A trust that is the legal owner of a life insurance policy is
A. a policy holder. B. an insurance trust. C. a trust fund. D. none of these answer options are correct.
One of the results of Paul Romer's new growth theory is that investment in research and development will be too low in an economy. Explain how he comes to this conclusion
What will be an ideal response?
When the price of pens went from $1 to $1.50, the quantity demanded of pencils changed from 50 to 75 a day. The cross-price elasticity of demand for pencils (using the initial value formula) is:
A. 1. B. 0.4. C. 0.2. D. -0.2.
When price equals marginal cost
A) firms make zero profits. B) firms make positive profits. C) the industry is in long-run equilibrium. D) the marginal benefits of consuming an extra unit of the good exactly equals the marginal cost to society of producing the good.