In the above table, what is the marginal utility of the fourth hotdog consumed?
A. 120
B. 130
C. 30
D. 10
Answer: D
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For the calculation of a Lorenz curve using quintiles, the:
a. first quintile contains the richest 50 percent of population. b. first quintile contains the richest 20 percent of population. c. first quintile contains the poorest 50 percent of population. d. first quintile contains the poorest 20 percent of population. e. last quintile contains the poorest 10 percent of population.
A family that earns $20,000 a year pays $4,000 a year in payroll taxes. A family that earns $40,000 a year pays $8,000 a year in payroll taxes. The payroll tax is a ________ tax.
A. progressive B. regressive C. proportional D. benefits-received
What is market failure? How can the government correct market failure?
What will be an ideal response?
The conditions for unaligned retailer and manufacturer incentives include
a. customers are unfamiliar with the product features before they shop for it b. retailers have no opportunity to educate consumers c. manufacturers are more efficient at education consumers d. demand for the product is decreased with some consumer education