Which of the following best describes a "how much" decision?
a. should i drive to work or ride by bike?
b. Should I rent a movie or watch a baseball game on television?
c. Should I attend graduate school or immediately enter the labor force?
d. should I buy a third hot dog?
d. should I buy a third hot dog?
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Pam buys only thread and fabric, and she buys the quantities that maximize her utility. Her marginal utility from a spool of thread is 30 units and her marginal utility from a yard of fabric is 60 units
If the price of a spool of thread is $4, then you are sure that the price of a yard of fabric is ________. A) $4 B) $2 C) $8 D) $12
The study of how firms interact in a market is a
a. waste of time b. normative subject c. microeconomic topic d. topic in political science e. macroeconomic topic
To increase total revenue, firms with ________ demand should lower price, and firms with ________ demand should increase price.
A. elastic; unit B. elastic; inelastic C. unit; inelastic D. inelastic; elastic
About one worker in _____ is covered by a Cost of Living Adjustment Agreement (COLA).
A. two B. four C. seven D. ten