Refer to the table below. Based on the data in the above table you can conclude that the:
The table below shows the utility schedule for a consumer of candy bars.
A. Marginal utility of the fourth unit is 96
B. Marginal utility of the third unit is 18
C. Total utility of 2 units is 16
D. Total utility of 6 units is 35
D. Total utility of 6 units is 35
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The sum of all the individual supply curves for a product is called
a. total supply. b. market supply. c. aggregate supply. d. total output.
Increased trade restrictions
A. Reduce total consumption possibilities. B. Alter a nation's production possibilities. C. Have a neutral impact since the losses cancel out the benefits. D. Increase a trade deficit in the short run.
If there are 40 firms in a monopolistic competitive industry, the oldest (or first) firm will have ___________ market share to qualify as the oldest (or first) firm
a. no less than 50 percent b. no less than 10 percent c. no more than 5 percent d. no more than 1 percent e. there is no specific percentage
Something that induces a person to act is called
a. a trade-off. b. a policy. c. an incentive. d. an opportunity cost.