In consumer equilibrium, one dollar's worth of additional gasoline will yield the same marginal utility as one dollar's worth of additional cheese
a. True
b. False
Indicate whether the statement is true or false
True
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The above figure shows the demand, marginal revenue, and cost curves for a natural monopoly
a. Which price and quantity is set if the capture theory is correct? b. If production is at the price and quantity specified in part (a), what area represents the economic profit? c. If production is at the price and quantity specified in part (a), what area represents the deadweight loss? d. If production is at the price and quantity specified in part (a), what area represents the consumer surplus?
The graph shown shows a subsidy to buyers. Before the subsidy is put in place, the buyers bought ________ units and paid ________ for each of them.
A. 150; $24 B. 100; $30 C. 150; $40 D. 100; $46
You are a hotel manager and you are considering four projects that yield different payoffs, depending upon whether there is an economic boom or a recession. The potential payoffs and corresponding payoffs are summarized in the following table.ProjectBoom (50%)Recession (50%)A$20-$10B-$10$20C$30-$30D$50$50The variance in the returns of project D is:
A. 900. B. 1,600. C. 225. D. 0.
Refer to the information provided in Figure 8.3 below to answer the question(s) that follow. 
Figure 8.3
Refer to Figure 8.3. The marginal cost of the eleventh basketball is
A. less than $1. B. $1. C. $2. D. greater than $2.