A(n) ___________ in income will shift the budget line to the left.
a. increase
b. decrease
c. no change
b. decrease
Economics
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The pricing rule MR=MC hold for
a. All firms b. Single product firms c. Multiple product firms d. None of the above
Economics
If the income elasticity of demand for a good is negative, the good is an inferior good
a. True b. False Indicate whether the statement is true or false
Economics
As the interest rate rises, debt service:
A. does not change and neither does the debt. B. decreases. C. does not change, but debt increases. D. increases.
Economics
In the above table, the total utility of three slices of pizza is
A. 80. B. 50. C. 20. D. 70.
Economics