Explain how it is possible for marginal utility to fall while total utility is still on the rise?
What will be an ideal response?
Total utility is the sum of the marginal utilities of all previous units. Even if marginalutility is falling as long as it is still positive that will allow total utility to continue torise.
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TANF stands for _____
a. Temporary Aid to Needy Families b. Temporary Assistance to Needy Families c. Transitory Aid to Needy Families d. Transitory Assistance to Needy Families
Which countries are among the highest-rated nations on the Gender Development Index?
a. Niger, Mali, Saudi Arabia, and Iran b. Canada, the U.S., Israel, China, and Kenya c. France, Japan, Brazil, and the U.S. d. Norway, Iceland, Sweden, Australia, and the U.S
A firm ________ in the short-run has an incentive to expand its long-run scale of operation.
A. earning positive profits B. that shuts down C. breaking even D. making a loss
Refer to the information provided in Table 20.5 below to answer the question(s) that follow. Cashews are measured in bushels and tea is measured in pounds (lbs.)
Table 20.5
Refer to Table 20.5. Which terms of trade benefits both countries?
A. 1 lb. of tea for 8 bushels of cashews B. 1 bushel of cashews for 4 lbs. of tea C. 1 lb. of tea for 10 bushels of cashews D. 1 bushel of cashews for 6 lbs. of tea