Marginal utility is the
A. Utility received from consuming the optimal combination of goods and services.
B. Change in total utility obtained by spending one extra dollar on a good or service.
C. Change in total utility obtained by selling one extra unit of a good or service.
D. Change in total utility obtained by consuming one extra unit of a good or service.
Answer: D
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Describe the four legal procedures available to U.S. firms to seek protection from foreign competition. What circumstances would warrant a request under each? How frequently is each used? What would be the result if the firm won?
What will be an ideal response?
Which of the following prevents potential competitors from entering a monopolist's market?
a. legal restrictions b. diseconomies of scale c. product differentiation d. stable market demand e. rising marginal cost
Other factors held constant, if there are few close substitutes for a good, demand is more elastic for it
a. True b. False Indicate whether the statement is true or false
A flow is a measure defined:
A. in nominal terms. B. in real terms. C. at a point in time. D. per unit of time.