A firm, judged to be a natural monopoly in a small rural market like Centerville, may be considered monopolistically competitive in a market such as New York City
Indicate whether the statement is true or false
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If Fred's marginal utility of pizza equals 10 and his marginal utility of salad equals 2, then
A) he would give up 5 pizzas to get the next salad. B) he would give up 5 salads to get the next pizza. C) he will eat five times as much pizza as salad. D) he will eat five times as much salad as pizza.
A decrease in the price level in Japan will shift the U.S. aggregate demand curve outward
a. True b. False Indicate whether the statement is true or false
Suppose the labor force stays constant, and the working-age population stays constant, but a greater number of persons who were unemployed become employed. The labor force participation rate will
A) increase. B) decrease. C) remain constant. D) not change in a way that can be predicted.
If total utility is falling, marginal utility is:
a. positive. b. negative c. positive, but declining. d. either positive or negative. e. zero.