Marginal utility is the change in
a. total utility when an extra unit of output is produced.
b. total utility when an extra unit of output is consumed.
c. marginal utility when an extra unit of output is produced.
d. average utility when an extra unit of output is consumed.
B
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Identify changes in three variables that would cause the FE line to shift to the right
What will be an ideal response?
One reason the Medicare system costs so much is
A) the amount of medical services is determined by the equilibrium of supply and demand. B) the supply of medical services does not respond to price changes. C) supply and demand analysis does not apply. D) beneficiaries are entitled to receive services for which the per-unit cost exceeds their own personal out-of-pocket payment.
Regarding U.S. antitrust activity, the rule of reason was expressed in the
a. Standard Oil case. b. Robinson-Patman Act. c. Clayton Act. d. ALCOA case.
The passage of the Smoot-Hawley Tariff in 1930 sparker a trade war that caused net exports to ___ and real GDP to ___
Fill in the blank(s) with the appropriate word(s).