Refer to Figure 4-18. How much of the tax is paid by buyers?
A) $8 B) $5 C) $4 D) $3
D
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When workers boycott a company because it does business with a firm whose employees are on strike, that is a
A) secondary boycott. B) primary boycott. C) strike. D) sympathy strike.
As savings grow in an economy, economic growth rises
a. True b. False Indicate whether the statement is true or false
When a consumer is maximizing total utility,
A) the average utility from each dollar spent is the same. B) total utility cannot be increased by reallocating expenditures among various products. C) the total utility obtainable from each product is at a maximum. D) the marginal utility of the last unit of each product purchased is zero.
If total revenue is increasing as output is rising, then
A. marginal revenue must be equal to zero. B. marginal revenue must be greater than zero. C. marginal revenue must be less than zero. D. price must be increasing.