Which of the following is the correct way to calculate marginal utility per dollar?
a. Total utility/price
b. Change in total utility/price
c. Marginal utility/price
d. Quantity/price
c. Marginal utility/price
Marginal utility per dollar is the amount of additional utility someone receives given the price of the product. This is a simple calculation shown as: marginal utility per dollar = marginal utility/price.
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Refer to Table 2-3. Assume Dina's Diner only produces sliders and hot wings. A combination of 80 sliders and 50 hot wings would appear
A) along Dina's production possibilities frontier. B) inside Dina's production possibilities frontier. C) outside Dina's production possibilities frontier. D) at the vertical intercept of Dina's production possibilities frontier.
Which one of the following is a way to get out of a repeated Prisoner's Dilemma Nash Equilibrium?
a. Do not be forgiving b. Be forgiving c. Punish the competitors severely forever d. All of the above
What is the level of profits when four units are produced?
a. 40 b. 70 c. -30 d. 20
The government, concerned about the wealth redistribution problem caused by the inequality of debt holdings, intervenes by
a. making a special effort to sell bonds to corporations b. creating a proportional income tax system c. sometimes instructing commercial banks to divest some of their bond holdings d. prohibiting the sale of bonds to the Federal Reserve e. limiting the purchase of bonds by foreigners