Velocity is the rate at which money changes hands.
Answer the following statement true (T) or false (F)
True
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Assuming that the marginal utility of wealth diminishes implies that
A) you have more total utility with $100 than with $1,000. B) you have more total utility with $1,000 than with $1,001. C) an additional dollar increases your total utility more if you only have $100 than if you have $1,000. D) an additional dollar does not increase your total utility regardless of your wealth.
In February, market analysts predict that the price of titanium will rise in March. What happens in the titanium market in February, holding everything else constant?
A) The quantity of titanium demanded and the quantity of titanium supplied both increase. B) The supply curve shifts to the right. C) The supply curve shifts to the left. D) The demand curve shifts to the left.
When the market for a good is in equilibrium,
What will be an ideal response?
All models of oligopoly involve pricing above marginal cost and output levels below the competitive level.
Answer the following statement true (T) or false (F)