Total utility
a. can never be negative
b. is maximized when marginal utility is maximized
c. always continues to increase as more of the good is consumed
d. is maximized when marginal utility is zero
e. is minimized when marginal utility is zero
D
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In the table above, y is measured along the y-axis and x along the x-axis. What is the value of the slope between the x = 8 and x = 6?
A) -0.057 B) -19.28 C) -35 D) 70
The phrase “capital formation” is synonymous with
A. investment spending. B. buying shares of stock. C. creating mutual funds. D. purchasing financial assets.
With a monopolist's outcome, consumer surplus is:
A. higher than that of a competitive market. B. lower than that of a competitive market. C. the same as that of a competitive market. D. Any of these is possible.
Which is not a determinant of supply?
a. The existing state of technology used by the firm b. The level of government taxes and subsidies c. The cost of resources used in production d. The market price of the good