Suppose you have spent your entire budget and the marginal utilities per dollar spent on all the goods you buy are equal. Which of the following is true?
a. You are not being rational.
b. There is a way to increase your utility by reallocating your purchases.
c. You will reduce your utility if you allocate your income in any other way.
d. You are minimizing your total utility.
e. You have chosen a consumption bundle that lies below your budget line.
C
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The above figure shows the demand curve for dollars in the yen/dollar exchange market. A movement from point A to point B means that the
A) quantity supplied of dollars has increased. B) quantity demanded of dollars has increased. C) quantity demanded of dollars has decreased. D) quantity demanded of yen has decreased.
Which of the following statements is true?
A) Opportunity cost = explicit cost - implicit cost. B) Variable cost = wages + salaries + benefits. C) Total cost = fixed cost + variable cost. D) Total cost = fixed cost + implicit cost.
Technological advancements that increase labor's productivity shift the labor supply curve to the right
Indicate whether the statement is true or false
M2 is actually a smaller amount than M1
a. True b. False Indicate whether the statement is true or false