Marginal utility is best computed as the ratio of:
a. total utility to change in quantity consumed.
b. the change in total utility to total quantity consumed.
c. total quantity consumed to total utility.
d. the change in total utility to change in quantity consumed.
d
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Since firms within a monopolistically competitive industry set output where marginal revenue is equal to marginal cost, the size of the fixed entry cost does not impact the equilibrium price.
Answer the following statement true (T) or false (F)
When studying pollution and the environment, economists
A) have no role to play. B) concentrate on the physical aspects of the environment. C) emphasize costs and benefits. D) attempt to reduce pollution at all costs. E) think pollution is good if it occurs when production takes place.
Which is the most important category of Fed assets?
A) securities B) discount loans C) gold and SDR certificates D) cash items in the process of collection
A demand curve can be thought of as
a. a graphical display of "market potential." b. a graphical representation of the information in a demand schedule. c. showing how much people want to buy. d. a forecasting tool. e. All of the above are correct.