Marginal utility
A. is stable, but then as a person consumes more of a good or service, has a propensity to increase.
B. equals the total satisfaction from consumption of goods and services.
C. can be thought of as being the equivalent to total utility.
D. at first rises and then declines as a person consumes more of a good or service.
Answer: D
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Who from among the following would be classified as employed?
A. Mario Faubert, a NHL hockey player at home sick with the flu. B. Jack Little, a 21 year old new college graduate actively looking for his first job. C. Brenda Smith, an 18 year old full-time college student. D. Sarah Lopez, a retired public school teacher.
What is personnel economics?
What will be an ideal response?
If one Mexican peso was worth 0.05 U.S. dollar, then one U.S. dollar would be worth:
a. 20 U.S. dollars. b. 20 Mexican pesos. c. 2 Mexican pesos. d. 0.05 Mexican pesos. e. 1 Mexican peso.
Based on the table for total, marginal, and average revenue, at what whole dollar unit price is total revenue maximized?
a. $2
b. $3
c. $4
d. $5