If the marginal net utility of beer is negative, the consumer should buy more beer in order to increase the total utility
a. True
b. False
Indicate whether the statement is true or false
False
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What is a balance of payments system, and what three types of international transactions are typically found in the balance of payments?
What will be an ideal response?
The rail system in Metropolis is a natural monopoly. If the government regulates the system by setting the fare equal to marginal cost, which of the following will be true?
a. Price and output will be higher than if the monopoly were unregulated. b. Price and output will be lower than if the monopoly were unregulated. c. Price will be lower and output higher than if the monopoly were unregulated. d. Price will be higher and output lower than if the monopoly were unregulated. e. Profit will be lower than if the monopoly were unregulated, but price and output could either increase or decrease.
Utility is a(n) _____ measure of well being of a person
a. objective b. subjective c. ordinal d. cardinal
A couple constructs a decision matrix to select which charity will receive a $500 donation. Since "helping children" is the most important criteria to the couple, which of the following weights should it be assigned?
A. .325 B. .25 C. .60 D. .100