Marginal utility is defined as
A. the number of units consumed divided by the total utility.
B. the total utility divided by the total number of units consumed.
C. the increase in utility divided by the total number of units consumed.
D. the change in total utility divided by the change in number of units consumed.
Answer: D
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A) increase taxes. B) increase the money supply and decrease the interest rate. C) increase government spending. D) increase oil prices. E) raise interest rates.
Define the tragedy of the commons. Give three examples of common resources. Briefly explain why common property resources are subject to overuse
What will be an ideal response?
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A) 12 .7 percent B) 1.5 percent C) -1.5 percent D) -12.7 percent
A new approach to management that uses market structures is
A) CAPM. B) market based management. C) total quality management. D) networking.