If total utility declines as an additional unit of a commodity is purchased,
A. marginal utility must be rising.
B. marginal utility is negative.
C. marginal utility is positive but falling.
D. its price must have risen.
E. marginal utility is zero.
Answer: B
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Suppose a tax on sellers has been imposed in the graph shown. What is the total tax paid per unit of the good?
A. $16
B. $6
C. $10
D. $15
While not as relevant today, the trade theory that was useful in explaining the pattern of trade when the US dominated the global market is the ______ theory.
Fill in the blank(s) with the appropriate word(s).
Which of the following characteristics are the most important for building trust among virtual team members?
Jen spends her afternoon at the beach, paying $1 to rent a beach umbrella and $11 for food and drinks rather than spending an equal amount of money to go to a movie. Her opportunity cost of going to the beach is:
A. the value she places on seeing the movie. B. the value she places on seeing the movie plus the $12 she spent on the umbrella, food and drinks. C. the $12 she spent on the umbrella, food and drinks. D. only $0 because she would have spent $12 to go to the movie.