Refer to the information provided in Figure 6.9 below to answer the question(s) that follow.
Figure 6.9Refer to Figure 6.9. The marginal utility of the fourth video game rental is
A. 0.
B. 4.
C. 8.
D. 22.
Answer: A
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Fran runs a doughnut shop in a tiny 3-person town. The table below shows the quantity demand by the three townspeople at various prices.Price PerDoughnutQuantity Demandedby AlQuantity Demandedby BettyQuantity Demandedby Carol10 cents104625 cents92535 cents71550 cents504When the price of a doughnut is 25 cents, what is the market demand for doughnuts?
A. 13 doughnuts B. 16 doughnuts C. 20 doughnuts D. 9 doughnuts
In the economic way of thinking, information is a scarce economic good because
A) people need more information. B) modern-day capitalism turned information into a tradable commodity. C) it is valuable, and there are opportunity costs to get it. D) a political conspiracy limits its production to keep citizens uninformed.
Following a tax cut by government, domestic investment will ________ and net exports will ________
A) increase; decrease B) decrease; decrease C) increase; increase D) decrease; increase
The outcome of the state of nature affects the payoff to the agent under a
A) fixed-fee contract. B) hire contract. C) contingent contract. D) All of the above.