In economics, interpersonal comparisons of utility
a. are widely accepted as useful and accurate to determine market demand
b. are widely accepted as useful and accurate to determine consumer surplus
c. can be measured accurately by using the hypothetical unit of utils
d. are generally avoided because we cannot compare with complete confidence the utility one person derives from a dollar to the utility another person derives from adollar
e. are widely accepted as useful and accurate because consumers have similar utility preferences
D
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What's the Easterlin Paradox -- and in what sense does it suggest reference-dependent preferences?
What will be an ideal response?
Exhibit 30-3 Costs of Eliminating:Firm A Firm B Firm C 1st ton of pollution$ 30 $ 50 $ 600 2nd ton of pollution$ 70 $ 90 $ 700 3rd ton of pollution$125 $150 $ 900 4th ton of pollution$200 $250 $1,300 Refer to Exhibit 30-3. The government issues two pollution permits to each firm. Firm C will pay up to __________ to buy a permit from Firm A or B.
A. $2,200 B. $1,000 C. $600 D. $500
Refer to Figure 16.3 below. When the MC z line crosses the D z line, profits for the firm are
A. 0.
B. greater than 1.
C. less than 0.
D. ?.
Given that Mattie could convincingly threatens to always fight, what would be Irene's best response
a. Enter b. Not Enter c. Run d. Hide