Total utility is

A. The additional utility from consuming one more unit of a good.
B. How much utility a seller gets from producing a good.
C. A function that always falls as a buyer enjoys more units of a good.
D. The sum of the marginal utilities from the consumption of good.


Answer: D

Economics

You might also like to view...

If K = 3000, n = 0.02, and d = 0.07, then investment of ________ will hold (K/N) constant

A) 105 B) 150 C) 270 D) 420

Economics

Suppose a manager is deciding whether or not to purchase a piece of equipment to make an input internally and has completed the majority of the net present value (NPV) calculations. The manager has correctly calculated the NPV to be equal to: NPV = ($1.023 × Q) - $350,000, where Q is the annual quantity of the input the firm needs. In order for the NPV to be positive, the firm needs at least

________ units of the input each year. A) 342,131 B) 153,985 C) 289,526 D) 35

Economics

Identify the correct statement from the following

a. Wages offered for a particular type of job are the same across the country. b. The labor market exhibits rapid adjustment to changes in supply or demand conditions. c. The labor market usually yields a range of wages rather than a unique equilibrium. d. Wages exhibit frequent and prompt changes in response to changes in market conditions.

Economics

Bank runs are only a concern under a fractional-reserve banking system

a. True b. False Indicate whether the statement is true or false

Economics