The expression "getting the most bang for your buck" is an illustration of the
A. marginal utility/total utility ratio.
B. total utility/price ratio.
C. marginal utility/price ratio.
D. total utility/marginal utility ratio.
Answer: C
You might also like to view...
Explain what economists mean when they apply the rationality assumption
What will be an ideal response?
In the case of automobile and medical insurance, adverse selection might mean that as the cost of insurance rises, the good drivers and healthy people reduce their coverage, while the poor drivers and unhealthy people maintain their coverage
a. True b. False Indicate whether the statement is true or false
The term "gross domestic purchases" refers to
A. the amount spent only by U.S. consumers on final goods and services. B. the amount spent only by government on final goods and services. C. the amount spent by U.S. consumers, businesses, and government on final goods and services. D. the amount spent only by businesses on final goods and services.
Most prescriptions are written for
A. over-the-counter drugs. B. live-extending drugs. C. live-saving drugs. D. drugs which simply make life more comfortable or enjoyable.