When the price of a good rises, marginal utility per dollar spent on that good ________, leading consumers to purchase ________ of that good.
A. rises; more
B. falls; more
C. falls; less
D. rises; less
Answer: C
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How many people does it take to make an ordinary no. 2 pencil?
A) One person B) Between one and five people C) Less than one hundred people D) Millions of people
Consider the following statement, "The Federal Reserve fights recessions by increasing the money supply so people will have more money to spend." What is wrong with the statement and how can it be corrected?
What will be an ideal response?
If you have a choice between studying and doing another activity, you will devote your time to studying as long as the additional benefit of studying is greater than the additional cost of studying
a. True b. False Indicate whether the statement is true or false
If a player has a strategy where one course of action outperforms all others no matter what other players do, that strategy is
A) a prisoner's dilemma. B) dominated. C) dominant. D) a winner.