If the marginal utility you derived from the last video game you played was 50 cents and the game costs 50 cents to play,
A. you have been playing the game too long.
B. you haven't been playing the game long enough.
C. you have maximized your total utility.
D. there is no way to determine whether you have played the game long enough.
C. you have maximized your total utility.
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What do we call the magnitude of the slope of an indifference curve?
What will be an ideal response?
The Clayton Act is an antitrust law that was passed to
A) outlaw monopolization. B) prohibit charging buyers different prices if the result would reduce competition. C) address loopholes in the Sherman Act. D) toughen restrictions on mergers by prohibiting mergers that reduce competition.
If the average income per U.S. worker decreases while that of Japanese workers remains unchanged, then the demand curve for Japanese yen will shift __________, which will cause the equilibrium exchange rate of the dollar price per yen to __________, which is the same thing as saying that the dollar will __________
A) rightward; rise; appreciate B) leftward; fall; appreciate C) rightward; rise; depreciate D) leftward; fall; depreciate E) rightward; fall; depreciate
Points A and B in the figure shown indicate consumption and investment for two economies. Other things constant, which of the economies is likely to grow more rapidly in the future?
(A) economy A
(B) economy B
(C) They can be expected to grow at the same rate.
(D) This is uncertain since growth is not influenced by the factors indicated in this example.
(E) Neither economy will experience growth as they are not maximizing their current investment.